Market cap of 6 of top-10 most valued firms surges ₹1.97 lakh crore; ICICI Bank, HDFC Bank shines

The combined market capitalization of six of the top 10 most valuable companies surged by ₹1,97,734.77 crore last week, with ICICI Bank and HDFC Bank emerging as the top gainers, in line with positive trends in equities.

The BSE benchmark rose by 1,653.37 points or 1.99 per cent over the week.

On Friday, the BSE benchmark skyrocketed by 1,359.51 points or 1.63 per cent to close at a record high of 84,544.31. During intraday trading, it spiked by 1,509.66 points or 1.81 per cent, reaching a lifetime high of 84,694.46.

ICICI Bank's valuation surged by ₹63,359.79 crore, reaching ₹9,44,226.88 crore, the highest increase among the top 10 firms.

HDFC Bank saw its valuation increase by ₹58,569.52 crore, pushing its market capitalization to ₹13,28,605.29 crore.

Bharti Airtel's market value surged by ₹44,319.91 crore, reaching ₹9,74,810.11 crore.

Reliance Industries' market capitalization climbed by ₹19,384.07 crore, totaling ₹20,11,544.68 crore.

Hindustan Unilever's valuation rose by ₹10,725.88 crore to ₹7,00,084.21 crore, while ITC's increased by ₹1,375.6 crore to ₹6,43,907.42 crore.

On the other hand, Tata Consultancy Services (TCS) saw its market capitalization decline by ₹85,730.59 crore to ₹15,50,459.04 crore.

Infosys' valuation dropped by ₹15,861.16 crore to ₹7,91,438.39 crore, while the Life Insurance Corporation of India (LIC) saw a loss of ₹14,832.12 crore, bringing its market capitalization to ₹6,39,172.64 crore. State Bank of India (SBI) also saw a decrease of ₹7,719.79 crore, with its valuation at ₹6,97,815.41 crore.

Reliance Industries remained the most valuable company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, Hindustan Unilever, SBI, ITC, and LIC.