Reliance Industries Leads Market Surge as Top Firms Add ₹2.89 Lakh Crore in Valuation

Mumbai: India’s stock market continued its upward climb last week, with the benchmark Sensex index recording its strongest monthly gain of 2024 at 7.14%. This rally propelled nine of the top ten most valued companies to significant market capitalisation (mcap) increases, with Reliance Industries leading the pack.

Reliance, the country’s most valuable company, witnessed a staggering ₹1,52,264.63 crore jump in mcap, reaching a total valuation of ₹21,18,951.20 crore. Other notable gainers included TCS, HDFC Bank, ICICI Bank, and Bharti Airtel, whose market capitalizations rose by ₹34,733.64 crore, ₹13,808.74 crore, ₹30,286.99 crore, and ₹18,267.7 crore respectively.

This positive trend extended to IT giant Infosys and State Bank of India, which saw their mcaps climb by ₹14,656.3 crore and ₹11,111.14 crore respectively. Hindustan Unilever and ITC also experienced healthy increases of ₹7,953.37 crore and ₹6,616.91 crore in their market valuations.

However, Life Insurance Corporation of India (LIC) emerged as the lone loser, with its mcap dropping by ₹22,042.61 crore to ₹6,25,573.90 crore. Despite this decline, LIC retained its position among the top ten most valued Indian companies.