Top 10 Most-Valued Firms Gain Rs 2,875 Crore In Market Cap, Led By HDFC Bank, TCS

The stock market saw notable gains as the top 10 most-valued firms accumulated a total market capitalization increase of Rs 2,875 crore. This growth was primarily driven by HDFC Bank and Tata Consultancy Services (TCS), which were the standout performers in this period.

Market Performance Overview

On Tuesday, NSE Nifty 50 and BSE Sensex indices closed positively, marking their fourth consecutive session of gains, representing one of the strongest winning streaks experienced in recent months.

HDFC Bank recorded a remarkable increase in market value, achieving an additional Rs 23,267 crore, raising its total market capitalization to about Rs 14.2 lakh crore. Meanwhile, TCS added Rs 18,687 crore, bringing its market cap to approximately Rs 15.8 lakh crore.

Other significant gainers included ICICI Bank, which gained Rs 5,072 crore, and State Bank of India (SBI), which gained Rs 4,105 crore.

Other Firms and Market Dynamics

Interestingly, the market capitalization of Larsen & Toubro increased by Rs 2,468 crore, resulting in a valuation of Rs 5.23 lakh crore. Conversely, Infosys faced a slight decrease of Rs 41 crore in market cap, reducing its total to Rs 7.85 lakh crore.

Unfortunately, not all companies fared well. Bharti Airtel recorded a loss of Rs 21,007 crore, bringing its market cap down to Rs 9.01 lakh crore. Similarly, Reliance Industries fell by Rs 18,673 crore, resulting in a market cap of Rs 17.7 lakh crore.

Further losses were noted for ITC Ltd. and Hindustan Unilever, which lost Rs 6,691 crore and Rs 4,311 crore respectively.

Despite these variances, Reliance Industries retained its position as the most valuable firm, followed closely by TCS and HDFC Bank, with other key players including Airtel, ICICI Bank, Infosys, SBI, HUL, ITC, and HCL Technologies Ltd.

Overall Market Sentiment

The recent trends reflect a generally positive outlook for Indian stocks, despite some near-term risks highlighted by financial experts. Notably, the Nifty 50 concluded the day at 24,467.45, increasing by 10.30 points (0.04%), while the Sensex stood at 80,956.33 after climbing 110.58 points (0.14%). Across the last four sessions, the indices have risen by 1.39% and 1.45%, respectively.

During intraday trading, the Nifty 50 peaked at 24,573.20, and the Sensex saw an advancement to 81,245.39. Importantly, this marked the first time in 29 sessions that the Sensex surpassed the 81,000 mark since October 21. Moreover, this winning streak represents the best since late September for both the Nifty and the Sensex.

Market, Performance, Valuation