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by IANS |
Mumbai, June 8 (IANS) The Indian stock market witnessed strong positive momentum this week, helping nine of the country’s ten most valued companies collectively add Rs 1,00,850.96 crore to their market capitalisation.
This rally came as the benchmark Sensex rose by 737.98 points, or 0.90 per cent, reflecting overall optimism in equities.
Among the top gainers, HDFC Bank recorded a sharp rise in market valuation, adding Rs 26,668.23 crore. With this, the private sector lender’s total market capitalisation reached Rs 15,15,853.85 crore.
Bajaj Finance also posted a strong performance, gaining Rs 12,322.96 crore in valuation during the week. Its market cap now stands at Rs 5,82,469.45 crore.
ICICI Bank’s market valuation increased by Rs 9,790.87 crore to Rs 10,41,053.07 crore, while Hindustan Unilever added Rs 9,280.89 crore, taking its mcap to Rs 5,61,282.11 crore.
Bharti Airtel saw its market valuation rise by Rs 7,127.63 crore, reaching Rs 10,65,894.55 crore.
Meanwhile, Life Insurance Corporation of India (LIC) gained Rs 3,953.12 crore, pushing its valuation to Rs 6,07,073.28 crore.
Infosys recorded a smaller increase, with a gain of Rs 519.27 crore, bringing its total market capitalisation to Rs 6,49,739.73 crore.
State Bank of India (SBI) also edged up, with a rise of Rs 401.61 crore, taking its mcap to Rs 7,25,437.74 crore.
Among the top 10, Tata Consultancy Services (TCS) was the only company to see a drop in its market value.
The IT giant’s mcap declined by Rs 28,510.53 crore during the week, settling at Rs 12,24,975.89 crore.
Despite TCS’s slip, the overall market sentiment remained upbeat, with investors showing confidence across sectors.
In terms of overall ranking by market capitalisation, the top five companies at the end of the week were HDFC Bank, TCS, Bharti Airtel, ICICI Bank, and SBI.
Market experts believe the positive momentum was supported by expectations of steady economic growth and improved investor sentiment ahead of key economic data and global cues.
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