The biggest companies of the country also benefited from the rise in the domestic stock market last week. A total increase of more than Rs 1.54 lakh crore was recorded in the market capitalization (market cap) of five of the top 10 most valuable companies of Sensex. Tata Consultancy Services (TCS) was the biggest gainer during this period, while the market cap of Reliance Industries, ICICI Bank, State Bank of India (SBI) and Bajaj Finance also increased significantly.
Last week, BSE Sensex closed with a gain of 582.06 points or 0.75% and NSE Nifty closed with a gain of 127.40 points or 0.52%. The direct impact of positive investor sentiment in the market was seen on the valuation of big companies.
TCS added the most market value
During the week, the market capitalization of TCS increased by Rs 72,072.30 crore to more than Rs 8.20 lakh crore. The company had recently released the June quarter results, in which its net profit increased by 4.61% on an annual basis. After better quarterly results, investors bought heavily in the company’s shares.
At the same time, the market cap of ICICI Bank increased by about Rs 29,062 crore to reach Rs 10.34 lakh crore. The market value of Reliance Industries increased by Rs 23,885 crore, Bajaj Finance by about Rs 21,947 crore and SBI by Rs 7,338 crore.
Decline in market cap of these companies
On the other hand, the past week was not positive for all the big companies. The biggest decline was recorded in the market capitalization of Larsen & Toubro (L&T). The market cap of the company decreased by about Rs 18,098 crore. Apart from this, the market valuation of LIC, Bharti Airtel, HDFC Bank and Hindustan Unilever also decreased.
The market cap of LIC declined by Rs 12,081 crore, Bharti Airtel by Rs 7,706 crore, HDFC Bank by Rs 7,085 crore and Hindustan Unilever by Rs 1,222 crore.
Reliance remains the country’s most valuable company
On the basis of market capitalization, Reliance Industries remains the most valuable company in the country. This was followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever. Market experts believe that if the quarterly results remain as expected in the coming days and the buying by foreign investors continues, then further increase in the market capitalization of big companies may be seen.
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