Last week, the stock market witnessed remarkable performance among the top 10 companies, with telecom giant Bharti Airtel leading the way. The company’s shares surged significantly, allowing it to cross a milestone market capitalization of ₹9 lakh crore for the first time ever. Meanwhile, Tata Consultancy Services (TCS) and Reliance Industries, led by Mukesh Ambani, also saw an increase in their market capitalizations; however, their valuation gains were less pronounced compared to Infosys. According to the figures, Airtel and Infosys emerged as the top earning companies of the week.
When we examine the total earnings of the top 10 companies, it is notable that eight of them saw an increase in market capitalization amounting to ₹153,019.32 crore. Bharti Airtel, Infosys, and TCS were among the biggest beneficiaries. Over the past week, the benchmark BSE index climbed by 1,279.56 points or 1.57%. On Friday, the BSE Sensex closed with an increase of 231.16 points or 0.28%, reaching a record high of 82,365.77. During intra-day trading, the index soared to a record intraday peak of 82,637.03 with a gain of 502.42 points or 0.61%. Let’s take a look at how the top 10 companies performed in terms of market capitalization.
Performance of the Top 10 Companies Last Week
- Bharti Airtel: The telecom giant saw its market valuation increase by ₹47,194.86 crore, reaching a total of ₹9,04,587.12 crore.
- Infosys: The IT major experienced a market cap increase of ₹33,611.37 crore, bringing its total valuation to ₹8,06,880.50 crore.
- Tata Consultancy Services (TCS): The largest IT company in India saw its valuation grow by ₹31,784.9 crore, elevating its market cap to ₹16,46,899.17 crore.
- ICICI Bank: As the second-largest private lender in the country, its market capitalization rose by ₹18,734.3 crore, reaching ₹8,66,374.41 crore.
- Reliance Industries: India’s largest company recorded a market cap increase of ₹13,396.42 crore, now totaling ₹20,43,107.10 crore.
- HDFC Bank: The largest private lender’s market capitalization grew by ₹5,600.24 crore, reaching a total of ₹12,44,206.43 crore.
- Life Insurance Corporation of India (LIC): The country’s largest government insurance company saw its valuation rise by ₹2,340.25 crore, totaling ₹6,73,390.88 crore.
- State Bank of India (SBI): The largest governmental lender’s valuation increased by ₹356.98 crore, now at ₹7,27,935.97 crore.
- Hindustan Unilever: India’s largest FMCG company experienced a decline in market cap, which fell by ₹8,411.54 crore to ₹6,52,739.95 crore.
- ITC: Another major FMCG player saw its market cap decrease by ₹4,776.48 crore, bringing it down to ₹6,27,587.76 crore.
Conclusion
The stock market performance last week highlighted the resilience and potential of key players in various sectors, especially in telecommunications and IT. While companies like Airtel and Infosys flourished, others in the FMCG sector faced challenges. Investors and market watchers will be keen to see how these dynamics evolve in the coming weeks, especially as economic conditions fluctuate and companies navigate through their respective challenges. The robust index performance also indicates investor confidence, setting an optimistic tone for future trading sessions.
