Market Cap of top 6 listed companies jumps ₹2 lakh crore; TCS, HDFC Bank lead the rally | Stock Market News

The combined market valuation of six out of the top 10 most-valued Indian companies soared by ₹2,03,116.81 crore last week, reflecting an optimistic sentiment on Dalal Street. Tata Consultancy Services (TCS) and HDFC Bank emerged as the biggest gainers, riding the wave of a bullish trend that saw the BSE Sensex climbing 1,906.33 points (2.38 per cent) and the NSE Nifty advancing 546.7 points (2.26 per cent).

Top gainers

Among the gainers, TCS led the charge with its market capitalisation increasing by ₹62,574.82 crore, taking the company’s total valuation to ₹16,08,782.61 crore. HDFC Bank followed closely, adding ₹45,338.17 crore to its valuation, which now stands at ₹14,19,270.28 crore. Reliance Industries also recorded significant growth, with its market value rising by ₹26,185.14 crore to reach ₹17,75,176.68 crore, solidifying its position as the most valuable company in India.

Infosys saw its market capitalisation jump by ₹26,885.8 crore, bringing its valuation to ₹7,98,560.13 crore. State Bank of India (SBI) posted a gain of ₹22,311.55 crore, pushing its valuation to ₹7,71,087.17 crore, while ICICI Bank added ₹19,821.33 crore, taking its total market value to ₹9,37,545.57 crore.

However, not all companies in the top 10 performed positively. Bharti Airtel’s valuation declined by ₹16,720.1 crore, bringing its total market cap to ₹9,10,005.80 crore. ITC saw a drop of ₹7,256.27 crore, ending the week at ₹5,89,572.01 crore. Hindustan Unilever and LIC also saw minor declines, losing ₹2,843.01 crore and ₹1,265 crore, respectively.

Reliance Industries maintained its top position as the most valuable firm, followed by TCS, HDFC Bank, ICICI Bank, and Bharti Airtel. Infosys, SBI, LIC, ITC, and Hindustan Unilever rounded out the top 10 list.

The benchmark BSE Sensex edged down by 0.07% to close at 81,709.12, while the broader NSE Nifty slipped 0.12% to settle at 24,677.8. This movement came after the Reserve Bank of India (RBI) announced a reduction in the cash reserve ratio (CRR) to improve liquidity but chose to keep interest rates unchanged.

Meanwhile, the Indian rupee saw a marginal gain of 0.05% against the U.S. dollar, closing at 84.6875. The rupee’s rise was supported by a weaker dollar and the RBI’s decision to lower the CRR, which helped ease monetary conditions amidst concerns over slowing economic growth.