Mcap of top 8 valued companies rises by ₹1.21 lakh crore; Reliance Industries is the biggest gainer among the top 10 companies

The combined market valuation of eight of the 10 most valued companies increased $1,21,270.83 crore last week. Reliance Industries emerged as the biggest gainer, in line with a notable rally in the benchmark stock indices. Last week, the BSE benchmark jumped 1,027.54 points or 1.21 percent. The 30-share BSE Sensex it hit its previous high of 85,978.25 on Friday.

Reliance Industries Ltd (RIL) maintained the highest ranking in the most valued companies chart, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and LIC. Mukesh Ambani-led RIL mcap jumped $53,652.92 million rupees to $20,65,197.60 crores.

Read also: Week ahead: Auto sales, SEBI board meeting, FII inflows and global cues among key market triggers as Nifty eyes 26,500

Mcap of the 10 most valued Indian companies

Added State Bank of India $18,518.57 crore, taking its valuation to $7,16,333.98 crores. Bharti Airtel’s market valuation soared $13,094.52 million rupees to $9,87,904.63 million rupees and that of ITC grew by $9,927.3 million rupees to $6,53,834.72 crores. Tata Consultancy Services (TCS) market capitalization (mcap) increased $8,592.96 million rupees to $15,59,052 crore.

HDFC Bank valuation rose $8,581.64 million rupees to $13,37,186.93 crore and that of Life Insurance Corporation of India (LIC) expanded $8,443.87 million rupees to $6,47,616.51 crores. Infosys mcap increased by $459.05 million rupees to $7,91,897.44 crore. However, ICICI Bank’s market valuation plummeted. $23,706.16 million rupees to $9,20,520.72 crores. Hindustan Unilever’s mcap decreased by $3,195.44 million rupees to $6,96,888.77 crores.

Stock Market Review: How Sensex, Nifty Performed Last Week

The Indian stock market closed September on a remarkably positive note after registering an invincible bullish rally driven largely by strong global cues. The market’s bullish rally was fueled by the massive 50 basis point (bp) rate cut by the US Federal Reserve, which showed no significant concerns about the US economy and China’s monetary stimulus.

As the new month begins, investors will closely monitor key market triggers such as domestic and global macroeconomic data, auto sales data, second quarter corporate updates, agency board meeting of market control, primary market action, foreign fund inflows, crude oil prices and the global situation. signs. Investors will see intense action in the household and corporate sectors in the first week of October.

Domestic equity benchmarks Sensex and Nifty 50 hit fresh all-time highs for six consecutive sessions and posted a third straight weekly gain. The notable performance was primarily driven by a strong rally in metals and financial stocks, which have seen significant buying interest amid improving global and domestic cues.

After a good start, the benchmark indices moved within a tight range during the first few sessions. However, a strong rally on Thursday allowed the indices to resume their upward trend. Continued optimism in US markets and recently announced stimulus measures by China contributed to the positive sentiment.

The Nifty 50 rose 0.23 per cent, hitting a new all-time high of 26,277 during trading on Friday before closing down 0.14 per cent at 26,199. Notably, this marked the third consecutive session in which the NSE index closed above the crucial psychological level of 26,000.

Similarly, the S&P BSE Sensex hit a new high of 85,978, rising 0.16 per cent. It ended the session at 85,615, a drop of 0.30 percent from its previous close, but remained above the 85,000 mark for the third consecutive session. On the weekly front, the 30-share BSE benchmark index jumped 1,027.54 points or 1.21 per cent, while the Nifty rose 388 points or 1.50 per cent.

“Nifty consolidated in the last day after witnessing a rise above 26k during the week. We expect the positive momentum in the market driven by blue-chip stocks to continue. While on the sectoral front, attention could shift towards the IT and banking space as companies release their pre-quarter updates next week. The automobile sector will also be in the spotlight next week as OEMs announce their monthly sales data,” said Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services Ltd.