Eight top-valued firms add Rs 1.21 lakh crore in combined valuation on market rally, RIL emerges as top gainer

The combined market valuation of eight of the top-10 most valued companies surged Rs 1.21 lakh crore last week with Reliance Industries (RIL) emerging as top gainer in line with an outstanding rally in benchmark equity indices. 

The Sensex gained 1,028 points, or 1.2 percent, to 85,571.85 during the week ended on September 27, while Nifty jumped 388 points, or 1.5 percent, to 26,178.95.   

Sector-wise, the BSE Metal index was the top performers with a gain of 7.1 percent followed by BSE Oil & Gas index (up 5.9 percent) and BSE Auto index (up 4.3 percent). On the other hand, the BSE FMCG index declined by 0.2 percent during the week.    

As many as 42 stocks in the Nifty 50 index delivered positive returns for investors this week. With a weekly gain of 10.9 percent, Bharat Petroleum Corporation (BPCL) emerged as the top gainer in the index. 

The market valuation of oil-to-telecom conglomerate Reliance Industries (RIL) increased by Rs 53,652.92 crore to Rs 20,65,197.60 crore. 

The country’s largest public sector lender, State Bank of India (SBI) added Rs 18,518.57 crore taking its valuation to Rs 7,16,333.98 crore. 

Bharti Airtel’s, country’s second largest telecom operator, saw its market valuation soar Rs 13,094.52 crore to Rs 9,87,904.63 crore.  

FMCG giant ITC recorded a Rs 9,927.3 crore increase in its overall valuation to Rs 6,53,834.72 crore. 

The rally in broader market saw market capitalisation (m-cap) of IT bellwether Tata Consultancy Services (TCS) surge by Rs 8,592.96 crore to Rs 15,59,052 crore. 

The country’s largest private lender HDFC Bank added Rs 8,581.64 crore to its valuation taking the overall tally to Rs 13,37,186.93 crore.  

Insurance giant Life Insurance Corporation of India’s (LIC) m-cap zoomed by Rs 8,443.87 crore to Rs 6,47,616.51 crore on market rally on September 27. 

Another IT bellwether Infosys saw its m-cap go up by Rs 459.05 crore to Rs 7,91,897.44 crore. 

Among the laggards, the market valuation of ICICI Bank tumbled by Rs 23,706.16 crore to Rs 9,20,520.72 crore. FMCG player Hindustan Unilever (HUL) saw its valuation decline by Rs 3,195.44 crore to Rs 6,96,888.77 crore. 

In the chart of the most valued firms, Reliance Industries retained top spot followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and LIC.