New Delhi, 08 November (H.S.): A strong rally in the domestic stock market during the previous trading week boosted the market capitalisation of nine of the 10 most valuable companies listed on the Bombay Stock Exchange (BSE). Only one company in the top 10 witnessed a decline in its market valuation, owing to some selling pressure. At the end of the week’s trading, the combined market capitalisation of the nine gainers had increased by more than Rs. 1.84 lakh crore. HDFC Bank and Bharti Airtel emerged as the biggest beneficiaries of the rally. In contrast, Life Insurance Corporation of India (LIC) suffered a decline of more than Rs. 4,000 crore in its market capitalisation.
During the previous week, Reliance Industries, Bharti Airtel, Jio Platforms, HDFC Bank, ICICI Bank, State Bank of India (SBI), Bajaj Finance, Tata Consultancy Services (TCS) and Infosys, all among the country’s 10 most valuable companies, registered significant gains in their market capitalisation. Collectively, their market value increased by Rs. 1,84,320.15 crore.
In contrast to the positive performance of these nine companies, LIC was the only constituent of the top 10 to witness a decline in its market valuation. Its market capitalisation fell by Rs. 4,120.30 crore during the previous week.
Following the strong performance in the stock market, HDFC Bank’s market capitalisation surged by Rs. 58,450.65 crore to reach Rs. 12,16,460.20 crore. Similarly, the market capitalisation of telecommunications major Bharti Airtel increased by Rs. 48,990.40 crore to Rs. 13,14,998.50 crore.
The market capitalisation of the country’s most valuable company, Reliance Industries, rose by Rs. 32,540.80 crore during the week to reach Rs. 17,86,295.10 crore. Another banking heavyweight, ICICI Bank, recorded an increase of Rs. 22,150.35 crore, taking its market capitalisation to Rs. 10,02,871.40 crore.
Jio Platforms also remained in favour with investors, registering a gain of Rs. 12,380.20 crore in its market capitalisation to reach Rs. 12,95,158.30 crore. The market value of State Bank of India (SBI) increased by Rs. 4,850.15 crore to Rs. 8,83,384.38 crore.
Meanwhile, the market capitalisation of information technology major Tata Consultancy Services (TCS) rose by Rs. 2,870.50 crore to Rs. 9,14,652.52 crore. Infosys also registered a modest increase of Rs. 1,240.25 crore, taking its market valuation to Rs. 4,68,528.03 crore. Bajaj Finance recorded a relatively marginal gain of Rs. 846.85 crore, with its market capitalisation reaching Rs. 5,77,146.21 crore.
In contrast to the gains recorded by the other nine companies, LIC witnessed some pressure on its valuation during the week. Its market capitalisation declined by Rs. 4,120.30 crore to Rs. 4,81,142.58 crore, making it the only company among the top 10 to register a decline in market value.
In terms of market capitalisation, Reliance Industries retained its position as the country’s most valuable company, with a valuation of Rs. 17,86,295.10 crore. Bharti Airtel occupied the second position with a market capitalisation of Rs. 13,14,998.50 crore, followed by Jio Platforms in third place at Rs. 12,95,158.30 crore.
HDFC Bank ranked fourth with a market capitalisation of Rs. 12,16,460.20 crore, while ICICI Bank secured the fifth position with a valuation of Rs. 10,02,871.40 crore.
Tata Consultancy Services (TCS) stood sixth with a market capitalisation of Rs. 9,14,652.52 crore, followed by State Bank of India (SBI) in seventh place at Rs. 8,83,384.38 crore. Bajaj Finance ranked eighth with a valuation of Rs. 5,77,146.21 crore, while LIC occupied the ninth position at Rs. 4,81,142.58 crore. Infosys remained in tenth place, with a total market capitalisation of Rs. 4,68,528.03 crore.
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Hindusthan Samachar / Jun Sarkar
