Market capitalisation of 6 most valued firms surges to ₹1.30 lakh crore; SBI, ICICI Bank leads the pack
Last week witnessed a collective surge in market valuation among six of the top-10 most valued companies, amounting to a notable increase of ₹1,30,734.57 crore.
State Bank of India and ICICI Bank emerged as the principal beneficiaries, aligning with an overall optimistic trend in the equity market.
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During this period, the BSE benchmark advanced by 641.83 points or 0.87 percent. The market value of State Bank of India soared by ₹45,158.54 crore to reach ₹7,15,218.40 crore, while ICICI Bank experienced a surge of ₹28,726.33 crore, reaching ₹7,77,750.22 crore.
Bharti Airtel and ITC also observed significant gains, adding ₹20,747.99 crore and ₹18,914.35 crore respectively to their market capitalization.
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On the other hand, Reliance Industries saw a decline of ₹26,115.56 crore in its market capitalization, settling at ₹19,64,079.96 crore. Similarly, HDFC Bank witnessed a dip of ₹16,371.34 crore, reaching ₹11,46,943.59 crore.
Despite fluctuations, Reliance Industries retained its position as the most valued firm among the top-10, followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, LIC, Infosys, ITC, and Hindustan Unilever Limited.
(With inputs from PTI)
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Published: 28 Apr 2024, 12:43 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.