TCS, HDFC twins, RIL gain most in market cap; Top 10 domestic companies add Rs 3.10 lakh crore in four sessions
The market capitalization of the top ten companies increased by Rs 3.10 lakh crore in four trading sessions last week due to strong uptick in domestic markets amid positive global cues. Tata Consultancy Services (TCS) increased its market cap by Rs 73,753.12 crore and earned Rs 7.56 lakh crore, becoming the biggest beneficiary in the top-10 charts.
HDFC's market cap for mortgage loans rose to Rs 58,499.9 crore, closing at Rs 3.32 lakh crore this week. This subsidiary HDFC Bank's market cap ranges from Rs 35,213.71 crore to Rs 5.49 lakh crore.
Mukesh Ambani-led Reliance Industries' market cap rose by Rs 31,506.3 crore to Rs 9.30 lakh crore in the last four trading sessions. Financial markets were closed on Friday due to Maharashtra Day. Investors saw an increase in their wealth by Rs 7.68 lakh crore globally on the sign of exemption in central coronovirus lockdown. While the Sensex rose 2,388 points (7.63%) in the last four sessions, the Nifty gained 705 points (7.70%).
"Most of the major global markets have come to a halt in the current week as many countries have started talking of shutting down the lockout," said Sanjeev Zarbade, VP PCG Research, Kotak Securities.
Sensex 997 points, Nifty at 9,859; Auto, Metal shares outperformed
He said the rally was also encouraged by the introduction of human trials on a vaccine, along with reports of encouraging results about Gilead's medication in the treatment of COVID-19.
Investor money also added to turbocharged sentiment and short-covering at the end of F&O contracts at home on Friday to encourage the results of the COVID-19 drug trial in the US.
Subsequently, the market capitalization of private sector lender ICICI Bank increased to Rs 2.45 lakh crore from Rs 29,180.58 crore in the last four sessions. IT Behem Infosys increased its market cap by Rs 24,659.57 crore to Rs 3. 05 lakh crore. Kotak Mahindra Bank's market cap rose by Rs 22,334 crore to Rs 2.59 lakh crore and Hindustan Unilever Ltd. rose by Rs 21,660.41 crore to Rs 5.15 lakh crore.
Telecom major Bharti Airtel added Rs 10,911.11 crore to the market cap of Rs 2.80 lakh crore. FMCG firm ITC reported an increase of Rs 2.23 lakh crore from Rs 2,642.83 crore. In the ranking of top-10 firms, RIL retained the number one ranking after TCS, HDFC Bank, HUL, HDFC, Infosys, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank and ITC.
HDFC's market cap for mortgage loans rose to Rs 58,499.9 crore, closing at Rs 3.32 lakh crore this week. This subsidiary HDFC Bank's market cap ranges from Rs 35,213.71 crore to Rs 5.49 lakh crore.
Mukesh Ambani-led Reliance Industries' market cap rose by Rs 31,506.3 crore to Rs 9.30 lakh crore in the last four trading sessions. Financial markets were closed on Friday due to Maharashtra Day. Investors saw an increase in their wealth by Rs 7.68 lakh crore globally on the sign of exemption in central coronovirus lockdown. While the Sensex rose 2,388 points (7.63%) in the last four sessions, the Nifty gained 705 points (7.70%).
"Most of the major global markets have come to a halt in the current week as many countries have started talking of shutting down the lockout," said Sanjeev Zarbade, VP PCG Research, Kotak Securities.
Sensex 997 points, Nifty at 9,859; Auto, Metal shares outperformed
He said the rally was also encouraged by the introduction of human trials on a vaccine, along with reports of encouraging results about Gilead's medication in the treatment of COVID-19.
Investor money also added to turbocharged sentiment and short-covering at the end of F&O contracts at home on Friday to encourage the results of the COVID-19 drug trial in the US.
Subsequently, the market capitalization of private sector lender ICICI Bank increased to Rs 2.45 lakh crore from Rs 29,180.58 crore in the last four sessions. IT Behem Infosys increased its market cap by Rs 24,659.57 crore to Rs 3. 05 lakh crore. Kotak Mahindra Bank's market cap rose by Rs 22,334 crore to Rs 2.59 lakh crore and Hindustan Unilever Ltd. rose by Rs 21,660.41 crore to Rs 5.15 lakh crore.
Telecom major Bharti Airtel added Rs 10,911.11 crore to the market cap of Rs 2.80 lakh crore. FMCG firm ITC reported an increase of Rs 2.23 lakh crore from Rs 2,642.83 crore. In the ranking of top-10 firms, RIL retained the number one ranking after TCS, HDFC Bank, HUL, HDFC, Infosys, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank and ITC.
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