LIC leads gains as market cap of five top-10 firms surges by ₹85,582 crore

Life Insurance Corporation of India (LIC) spearheaded the rise in market capitalization last week, with the combined value of five of India's top ten most valued firms increasing by ₹85,582.21 crore. This positive trend emerged amidst a bullish market, as the BSE benchmark Sensex climbed by 299.41 points, or 0.39%, to reach a record high of 77,145.46 on June 13.

LIC Tops the Gainers

LIC saw the most significant increase in market value, adding ₹46,425.48 crore to its capitalization, bringing it to ₹6,74,877.25 crore. This impressive gain underscores LIC’s strong performance in the equity market.

Other Key Gainers

HDFC Bank followed, with its market capitalization increasing by ₹18,639.61 crore, reaching a total of ₹12,14,965.13 crore. Reliance Industries also showed substantial growth, adding ₹10,216.41 crore to its market cap, which now stands at ₹19,98,957.88 crore. The State Bank of India’s market value rose by ₹9,192.35 crore, pushing its valuation to ₹7,49,845.89 crore. Bharti Airtel saw a modest increase of ₹1,108.36 crore, ending the week with a market cap of ₹8,11,524.37 crore.

Market Declines

In contrast, five other top-10 companies experienced declines in their market valuations. Hindustan Unilever’s market cap decreased by ₹22,885.02 crore to ₹5,82,522.41 crore. Tata Consultancy Services (TCS) also faced a drop, with its valuation falling by ₹22,052.24 crore to ₹13,86,433.05 crore. Infosys’s market capitalization reduced by ₹18,600.5 crore, bringing its total to ₹6,18,030.37 crore.

ICICI Bank and ITC also saw declines, with their market caps decreasing by ₹11,179.27 crore and ₹9,987.78 crore, respectively, resulting in new valuations of ₹7,77,795.90 crore for ICICI Bank and ₹5,38,216.34 crore for ITC.

Leading Firms

Reliance Industries remained the most valuable company in India, followed by TCS, HDFC Bank, Bharti Airtel, and ICICI Bank. The other companies in the top ten included State Bank of India, LIC, Infosys, Hindustan Unilever, and ITC.

Conclusion

The surge in market capitalization among these top firms highlights the ongoing robust performance in India's equity markets. As the Sensex continues to reach new highs, investors are closely monitoring these leading companies for further gains and market trends.