The top 10 valued companies added a whopping Rs 2.72 lakh crore to their market valuation last week as domestic stock benchmarks witnessed heavy buys following a general bullish trend in global equities.
Benchmark indices posted strong gains in the truncated holiday week. The 30-stock BSE Sensex climbed 2,313.63 points, or 4.16 percent, while the NSE Nifty improved 656.60 points, or 3.95 percent.
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Following the bullish trend in the broader market, the combined market capitalization (m-cap) of the country’s top 10 companies rose by Rs 2,72,184.67 crore last week.
The m-cap of major corporation Reliance Industries increased by Rs 54,904.27 crore to Rs 16,77,447.33 crore.
IT bellwethers TCS and Infosys Technologies have collectively added Rs 41,058.98 crore to their market valuations.
The market value of Tata Consultancy Services (TCS) climbed Rs 27,557.93 crore to Rs 13,59,475.36 crore while Infosys’ valuation rose Rs 13,501.05 crore to reach Rs 7,79,948.32 crore.
The country’s largest lenders, HDFC Bank, ICICI Bank and SBI, saw their market valuations rise sharply. The valuation of HDFC Bank increased by Rs 46,283.99 crore to Rs 8,20,747.17 crore.
State Bank of India (SBI) m-cap rose by Rs 27,978.65 crore to Rs 4,47,792.38 crore and that of ICICI Bank rose by Rs 29,127.31 crore to Rs 5,0,174.83 crore.
The valuation of Hindustan Unilever Ltd (HUL) rose by Rs 1,703.45 crore to Rs 4,93,907.58 crore and that of Bajaj Finance rose by Rs 22,311.87 crore to Rs 4,2325.91 crore.
The valuation of HDFC rose by Rs 33,438.47 crore to Rs 4,37859.67 crore.
Telecom major Bharti airtel also witnessed an increase of Rs 15,377.68 crore to its market value which stood at Rs 3,96,963.73 crore.
In the ranking of the top 10 companies, Reliance Industries led the list, followed by Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC, Bajaj Finance and Bharti Airtel.
This post Market capitalization of top 10 valued companies swells by more than Rs 2.72 lakh cr amid massive purchases was original published at “https://www.zeebiz.com/market-news/news-market-capitalisation-of-top-10-valued-companies-swells-by-over-rs-272-lakh-cr-amid-massive-buying-sentiment-181180”