Market capitalisation of 7 of top-10 most valued firms added ₹3.04 lakh crore; HDFC Bank, LIC biggest gainers

The combined market valuation of seven of the 10 most valued firms climbed ₹3,04,477.25 crore last week, with HDFC Bank and LIC emerging as the biggest gainers amid an overall optimistic trend in equities. Last week, the BSE benchmark rallied 2,344.41 points or 3.47%. On Friday, the 30-share BSE Sensex rose 303.91 points, or 0.44%, to hit its new peak of 69,825.60. The index touched the highest intra-day level of 69,893.80.

HDFC Bank, Life Insurance Corporation of India (LIC), ICICI Bank, Tata Consultancy Services, and Reliance Industries were among the companies that recorded additions in their market valuation. HDFC Bank’s valuation soared by ₹74,076.15 crore to ₹12,54,664.74 crore.

The market capitalisation (mcap) of Life Insurance Corporation of India jumped by ₹65,558.6 crore to ₹4,89,428.32 crore at close on Friday. LIC had reclaimed the ₹5 lakh crore-mark after the shares of the company hit a 52-week high on the bourse on Thursday. However, at close, the company’s market cap was just short of ₹5 lakh crore mark. ICICI Bank market capitalisation climbed ₹45,466.21 crore to ₹7,08,836.92 crore.