Priyanka
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Last week, the Indian stock market witnessed an impressive boom, marking its biggest growth in the past four years. The Sensex closed higher each day of the week, with a 3,076.6 point increase, or a 4.16% rise. Similarly, the Nifty gained 953.2 points, which was a 4.25% increase. This surge led to significant profits for investors across the market.
Massive Increase in Market Capitalization
The surge in the stock market resulted in a collective market capitalization increase of Rs 3,06,243.74 crore for nine of the top 10 Sensex companies. Among the standout performers:
- ICICI Bank led the way, adding Rs 64,426.27 crore to its market cap, reaching Rs 9,47,628.46 crore.
- Bharti Airtel followed closely, with a gain of Rs 53,286.17 crore, bringing its valuation to Rs 9,84,354.44 crore.
- HDFC Bank and Reliance Industries also saw substantial gains, increasing their market caps by Rs 49,105.12 crore and Rs 39,311.54 crore, respectively.
Other notable gains included Tata Consultancy Services (TCS), Bajaj Finance, State Bank of India (SBI), and Hindustan Unilever, each seeing an increase in market cap, contributing to the overall market boom.
ITC's Disappointment Among the Top Performers
While most top companies saw gains, ITC was a notable exception. The company experienced a drop in market capitalization of Rs 7,570.64 crore, lowering its value to Rs 5,07,796.04 crore. This marked a disappointing performance in an otherwise booming market.
Top Companies in the Sensex Rankings
Despite the drop in ITC’s valuation, Reliance Industries maintained its position at the top of the Sensex rankings. The top 10 Sensex companies based on market capitalization were:
- Reliance Industries
- HDFC Bank
- TCS
- Bharti Airtel
- ICICI Bank
- State Bank of India
- Infosys
- Bajaj Finance
- Hindustan Unilever
- ITC
