M-cap of 8 most valued firms surges to Rs. 1,29,000cr
What's the story
During the recent holiday-shortened week, the combined market valuation of eight of the top 10 most valued Indian companies jumped to Rs. 1,29,899.22 crore.
This surge was driven by a strong performance in the equity benchmark indices, with the BSE benchmark index climbing 1,133.3 points or 1.59% to reach a record high of 72,484.34 points on December 28.
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HDFC Bank emerged as the biggest gainer
Among the top gainers were HDFC Bank, LIC, Bharti Airtel and Hindustan Unilever.
The market valuation of HDFC Bank rose by Rs. 29,828.84 crore to Rs. 12,97,972.04 crore.
LIC with Rs. 25,426.49 crore, took its valuation to Rs. 5,27,062.06 crore.
Bharti Airtel's valuation jumped by Rs. 24,510.96 crore to Rs. 5,80,645.54 crore.
Hindustan Unilever gained Rs. 20,735.14 crore to settle at Rs. 6,25,778.39 crore.
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Check out other gainers
Other winners included Reliance Industries, ICICI Bank, ITC, and State Bank of India.
Reliance Industries witnessed a surge of Rs. 13,633.07 crore, reaching a total of Rs. 17,48,827.92 crore.
Meanwhile, ITC experienced an increase of Rs. 9,164.74 crore, bringing its market capitalization to Rs. 5,76,809.77 crore.
The State Bank of India saw a rise of Rs. 4,730.04 crore, reaching a valuation of Rs. 5,72,915.46 crore.
ICICI Bank's m-cap climbed by Rs. 1,869.94 crore, reaching a total of Rs. 6,98,965.47 crore.
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Market valuation declined for TCS and Infosys
Tata Consultancy Services (TCS) and Infosys experienced declines in their valuations.
TCS saw a decrease in valuation of Rs. 11,105.22 crore, settling at Rs. 13,88,591.70 crore, while Infosys experienced a dip of Rs. 7,946.24 crore, bringing its valuation to Rs. 6,40,351.80 crore.
In terms of most valued firms, Reliance Industries maintained its lead, with TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India, and LIC following suit.