Market valuation of 8 of top 10 most valued firms spikes over Rs 1.72 lakh crore

The combined market valuation of eight of the top 10 most valued firms jumped Rs 1,72,148.89 crore last week.

Reliance Industries led the pack with the maximum gain, in line with a bullish trend in domestic equities.

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Reliance Industries, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, Infosys, Hindustan Unilever Ltd, Life Insurance Corporation of India (LIC), and Bajaj Finance were the gainers.

HDFC Bank and State Bank of India faced erosion in their valuation.

In a rank-wise analysis, Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, LIC and Bajaj Finance.

Reliance Industries added Rs 48,107.94 crore, taking its market valuation to Rs 19,07,131.37 crore.

The market capitalisation of Hindustan Unilever jumped Rs 34,280.54 crore to Rs 6,17,672.30 crore, and Bharti Airtel’s valuation surged Rs 33,899.02 crore to Rs 11,02,159.94 crore.

ICICI Bank added Rs 6,443.84 crore to its market valuation, which stood at Rs 10,25,426.19 crore, while the mcap of HDFC Bank eroded by Rs 20,040.7 crore to Rs 15,08,346.39 crore.

The market valuation of State Bank of India declined by Rs 9,784.46 crore to Rs 7,53,310.70 crore.

The mcap of Infosys edged higher by Rs 16,693.93 crore to Rs 6,18,004.12 crore, and that of TCS climbed Rs 11,487.42 crore to Rs 11,04,837.29 crore.

On Friday, the market ended the week on a negative note, snapping a six-day gaining streak. Nifty 50 closed below 24,900 on all-round selling across sectors barring media and pharma.