Market Trends: Surge in Market Capitalization of Leading Companies
Last week witnessed a remarkable surge in the market capitalization of six out of the top ten most valuable companies listed on the Sensex. The total increase amounted to ₹1,97,734.77 crore, with ICICI Bank and HDFC Bank leading the charge. During this period, the 30-share BSE Sensex experienced a solid rise of 1,653.37 points, equating to an increase of 1.99%. Notably, on September 20, the Sensex hit a new record high of 84,544.31 points after climbing 1,359.51 points, or 1.63% on that day alone.
Top Gainers of the Week
In terms of individual performances, ICICI Bank saw an impressive increase in its market cap, which rose by ₹63,359.79 crore to reach ₹9,44,226.88 crore. Meanwhile, HDFC Bank also enjoyed significant gains, with its market capitalization climbing by ₹58,569.52 crore to ₹13,28,605.29 crore. But they were not the only ones benefiting from the recent market excitement.
Other Companies with Increasing Market Capitalization
| Company | Market Cap Increase (in crore) | Total Market Capitalization (in crore) |
|---|---|---|
| Airtel | ₹44,319.91 | ₹9,74,810.11 |
| Reliance Industries | ₹19,384.07 | ₹20,11,544.68 |
| Hindustan Unilever | ₹10,725.88 | ₹7,00,084.21 |
| ITC | ₹1,375.60 | ₹6,43,907.42 |
Losses Faced by Other Companies
While several companies enjoyed gains, the same could not be said for the remaining four in the top ten list, which faced notable declines in their market capitalizations. Tata Consultancy Services (TCS) experienced the most significant drop, with a decline of ₹85,730.59 crore to ₹15,50,459.04 crore. Infosys also saw a reduction in its market cap by ₹15,861.16 crore, bringing its total down to ₹7,91,438.39 crore. The Life Insurance Corporation (LIC) and State Bank of India (SBI) similarly faced losses of ₹14,832.12 crore and ₹7,719.79 crore, respectively.
Current List of Top 10 Companies by Market Capitalization
The current rankings of the top ten companies on the Sensex are as follows:
| Rank | Company Name | Market Capitalization (in crore) |
|---|---|---|
| 1 | Reliance Industries | ₹20,11,544.68 |
| 2 | Tata Consultancy Services (TCS) | ₹15,50,459.04 |
| 3 | HDFC Bank | ₹13,28,605.29 |
| 4 | Bharti Airtel | ₹9,74,810.11 |
| 5 | ICICI Bank | ₹9,44,226.88 |
| 6 | Infosys | ₹7,91,438.39 |
| 7 | Hindustan Unilever | ₹7,00,084.21 |
| 8 | State Bank of India | ₹6,97,815.41 |
| 9 | ITC | ₹6,43,907.42 |
| 10 | Life Insurance Corporation (LIC) | ₹6,39,172.64 |
Upcoming IPOs and Market Outlook
Looking ahead, investors should keep an eye on the upcoming IPOs set to be listed in the week beginning September 23. Key listings include companies such as Popular Foundations on the BSE SME, and several others on the NSE SME. Analysts suggest that upcoming economic indicators such as the US GDP, PMI data, and foreign institutional investor (FII) flows will be crucial in determining market trends in the coming weeks.
