Market valuation of top firms surges ₹59,404 crore during holiday-shortened week; Airtel and ICICI Bank gain big

The combined market valuation of seven out of the ten most valued companies surged by ₹59,404.85 crore during the holiday-shortened last week, with Bharti Airtel and ICICI Bank emerging as the biggest gainers, PTI reported.

In the ranking of top-10 firms, Reliance Industries (RIL) maintained its position as the most valued company, followed by Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India (SBI), Infosys, Life Insurance Corporation of India (LIC), ITC, and Hindustan Unilever (HUL).

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Stock markets remained closed on Thursday, April 11, due to Eid-Ul-Fitr celebrations.

Last week, the Sensex experienced a marginal dip of 3.32 points following a record-breaking rally. The BSE benchmark settled at 75,038.15 on Wednesday (April 10), and reached a lifetime peak of 75,124.28 on Tuesday (April 9).

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Who Were the Key Gainers?

Bharti Airtel witnessed a jump in market valuation by ₹19,029.37 crore to reach ₹6,92,861.27 crore. Similarly, ICICI Bank added ₹15,363.23 crore, taking its valuation to ₹7,75,447.63 crore.

RIL's market valuation climbed by ₹10,250.02 crore to ₹19,85,797.70 crore, while TCS saw a surge of ₹7,507.53 crore, reaching ₹14,47,343.55 crore.

ITC's market capitalisation rallied by ₹2,809.06 crore to ₹5,36,967.87 crore, and Infosys climbed by ₹2,303.73 crore to ₹6,16,424.57 crore. SBI's market valuation jumped by ₹2,141.91 crore to ₹6,84,294.62 crore.

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Who Were the Key Losers?

However, HDFC Bank witnessed a decline in market capitalisation, tanking by ₹23,170.58 crore to ₹11,53,894.76 crore.

Similarly, the valuation of LIC dropped by ₹13,440.62 crore to ₹6,14,252.15 crore, and HUL saw a decline of ₹8,153.08 crore, reaching ₹5,24,663.73 crore.

(With inputs from PTI) Read