New Delhi: Markets made a significant recovery last week with nine out of ten most valued stocks cumulatively contributing a whopping ₹1,91,434.41 crore in the valuation. Reliance Industries (RIL), Tata Consultancy Services (TCS), and Infosys emerged as the biggest winners. ICICI Bank was the only laggard from the top-10 pack.
RIL which is the most valued company in terms of market cap on BSE, was the biggest contributor last week with the addition of ₹49,492.7 crore – taking its market cap to ₹16,22,543.06 crore. IT giants TCS and Infosys valuation rose by ₹41,533.59 crore and Rs27,927.84 crore – reaching at valuation of ₹7,66,447.27 crore and ₹13,31,917.43 crore. TCS is the second most valued company on BSE in terms of market cap.
Meanwhile, Bharti Airtel added ₹22,956.67 crore taking its market cap to ₹3,81,586.05 crore. FMCG-giant Hindustan Unilever followed with market cap jumping by ₹17,610.19 crore reaching at ₹4,92,204.13 crore.
HDFC Bank which is the third most valued company on BSE, added ₹16,853.02 crore in its market valuation to ₹7,74,463.18 crore. Parent, HDFC’s market cap advanced by ₹2,210.49 crore to ₹4,04,421.20 crore.
Furthermore, the largest lender, State Bank of India (SBI) recorded an uptick of ₹7,541.3 crore in market cap to ₹4,19,813.73 crore. Bajaj Group-backed Bajaj Finance’s market cap climbed by ₹5,308.61 crore to ₹4,00,014.04 crore.
On the contrary, ICICI Bank logged a correction in its market cap. It plummeted by ₹7,023.32 crore to ₹4,71,047.52 crore. In the top-10 list, on BSE, RIL held its top position followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, SBI, HDFC, and Bharti Airtel.
On Friday, Sensex and Nifty settled with marginal gains over 55,550 and 16,630 levels. From March 04, till the last trading session of last week, benchmark Sensex skyrocketed by 1,216.49 or 2.23%. Despite the Russia-Ukraine conflict keeping the tone of markets volatile, Indian equities picked up pace last week on the back of major state elections and crude oil prices tilting downward after a wild see-sawing in the past weeks.