The country's top 10 most-valued firms gain a cumulative market valuation of over approximately Rs 1.65 lakh crore on Monday, with Reliance Industries Ltd. and Tata Consultancy Services emerging as the biggest gainers.
Reliance Industries gained Rs 34,573 crore in market cap to Rs 17.46 lakh crore, and Tata Consultancy Services Ltd gained Rs 27,280 crore in market cap to Rs 15.63 lakh crore.
All top 10 most-valued firms gained market capitalisation in today’s session, barring IT major Infosys Ltd who ended in the red in today’s trading session.
The IT major Infosys lost 4,671 crores in market capitalization to Rs 7.85 lakh crore.
The market cap of State Bank of India Ltd. gained Rs 26,238 crore to Rs 7.54 lakh. HDFC Bank gained Rs 25,441 crore in market cap to Rs 13.57 lakh crore.
Hindustan Unilever Ltd gained Rs 6,978 crore in market cap to Rs 58.15 lakh crore, and ITC Ltd gained Rs 2,689 crore in market cap to Rs 5.96 lakh crore.
ICICI Bank Ltd. and Bharti Airtel Ltd. gained Rs 17,578 crore and Rs 8,055 crore, respectively.
RIL remained the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel Ltd., ICICI Bank, Infosys, SBI, HUL, ITC, and HCLTech.
The benchmark equity indices in India added nearly 4% in two consecutive sessions of gains to recoup their losses on a month-on-month basis. Both the NSE Nifty 50 and the BSE Sensex recorded on Monday the highest closing since Nov. 6.
Globally, the sentiment was uplifted after President-elect Donald Trump hinted at his intention to nominate Key Square Group founder Scott Bessent as the US Treasury secretary. The market also assessed brokerages' positive commentary after the National Democratic Alliance's win in the Maharashtra assembly elections.
The Nifty closed 314.65 points, or 1.32%, up at 24,221.90, while the Sensex ended 992.74 points, or 1.25%, higher at 80,109.85. During the day, both the Nifty and the Sensex rose nearly 2% to hit their highest levels since Nov. 7.
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