Last week, the combined market capitalization of 7 out of the top-10 Sensex companies increased by a total of ₹1.18 lakh crore. SBI and Bharti Airtel led the gains, while Reliance, TCS, HDFC Bank, Infosys, and LIC also benefited. Meanwhile, ICICI Bank, Bajaj Finance, and Hindustan Unilever experienced losses.
SBI's market: The Indian stock market offered significant relief to investors last week as the Sensex closed with a gain of 721 points, and the market value of 7 out of the top-10 companies increased. State Bank of India gained the most, adding ₹35,953 crore to its market cap. Investors of Bharti Airtel, Reliance, TCS, HDFC Bank, Infosys, and LIC also saw profits. However, ICICI Bank, Bajaj Finance, and Hindustan Unilever faced losses. During this period, the total market cap of the top-10 companies increased by ₹1.18 lakh crore.
SBI's Market Cap Saw the Biggest Surge
State Bank of India (SBI) shares witnessed a tremendous surge last week. The bank's market cap increased by ₹35,953.25 crore, bringing SBI's total market cap to ₹7,95,910 crore. Driven by strength in the banking sector and growing investor interest, SBI proved to be a profitable venture for investors.
Bharti Airtel Shares Also Saw Strong Gains
Telecom company Bharti Airtel also excelled in providing excellent returns to investors. The company's market cap grew by ₹33,214.77 crore, reaching ₹11,18,952.64 crore. The expansion of 5G services and the increasing subscriber base clearly impacted the company's shares.
Reliance and TCS Also Benefited
Reliance Industries' market cap increased by ₹17,389.23 crore, reaching ₹19,04,898.51 crore. It remains the country's largest company. Meanwhile, IT sector giant Tata Consultancy Services (TCS) also recorded a market cap increase of ₹12,952.75 crore, with its market cap reaching ₹11,46,879.47 crore.
LIC and Infosys Also Gained Momentum
Life Insurance Corporation of India (LIC)'s market cap rose by ₹12,460.25 crore to ₹5,65,612.92 crore. On the other hand, Infosys, another major IT sector company, also benefited investors. Infosys' market cap increased by ₹6,127.73 crore, reaching ₹6,39,901.03 crore.
HDFC Bank Recorded Modest Gains
HDFC Bank, the country's largest private bank, also saw its market cap increase last week. It recorded a modest gain of ₹230.31 crore, reaching ₹14,84,816.26 crore.
Companies That Incurred Losses
While seven companies brought gains to investors, three companies recorded a decline in their market cap. ICICI Bank's market cap decreased by ₹10,707.87 crore to ₹10,01,654.46 crore. Bajaj Finance also suffered a setback, with its market cap falling by ₹6,346.93 crore to ₹6,17,892.72 crore. Meanwhile, Hindustan Unilever's market cap dropped by ₹5,039.87 crore to ₹6,01,225.16 crore.
Top 10 Companies Ranking
Despite the fluctuations last week, Reliance Industries maintained its first position in the list of top 10 companies. It was followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC, respectively.
Sensex Performance in the Market
BSE's 30-share Sensex rose by 721.53 points, or 0.88 percent, last week. This increase directly impacted the market capitalization of large companies. The banking and telecom sectors, in particular, played a crucial role in accelerating market momentum.
