Share Market: Market value of top-10 companies increased by ₹ 1.90 lakh crore, ICICI Bank became the biggest star.

There was a spectacular rise in the Indian stock market last week, which directly benefited the biggest companies of the country. Due to the strength in BSE Sensex and NSE Nifty, the total market value (market capitalization) of 8 companies out of the top-10 most valuable companies increased by about ₹ 1.90 lakh crore. In this rally, the biggest shine was seen in the shares of ICICI Bank, which left all the companies behind in terms of increasing the market value.

The stock market is back in glory

Last week, Sensex closed more than 1,284 points higher and Nifty closed more than 256 points higher. Hopes of easing of global tensions, prospects of a US-Iran peace deal and steps by the Reserve Bank of India (RBI) to attract foreign investment boosted investor confidence. According to Ajit Mishra, Head of Research, Religare Broking, better global environment and domestic economic strength have given new energy to the market.

ICICI Bank became the biggest winner

ICICI Bank recorded the biggest increase in market value. The market capitalization of the bank increased by ₹56,223 crore and its total value increased to close to ₹9.61 lakh crore. This was followed by HDFC Bank, whose market value increased by ₹ 38,571 crore. State Bank of India (SBI) also performed brilliantly and recorded an increase of ₹ 36,137 crore.

These companies also got big benefits

• Bajaj Finance’s value increased by ₹18,366 crore.
• Bharti Airtel’s market cap increased by ₹14,380 crore.
• Larsen & Toubro (L&T)’s value increased by ₹13,241 crore.
• Hindustan Unilever (HUL) added ₹10,984 crore.
• The market value of Reliance Industries also increased by ₹2,097 crore.

TCS and LIC suffered losses

While most of the big companies took advantage of the rally, Tata Consultancy Services (TCS) and LIC witnessed a decline in market value. TCS’s market cap declined by about ₹13,296 crore, while LIC’s value declined by ₹822 crore.

Who is the most valuable company?

According to the latest data, Reliance Industries still remains India’s most valuable company. It is followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, L&T, Hindustan Unilever and LIC respectively.