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By Malvika Gurung
Investing.com — The domestic market has been on the rise for 7 out of the last 8 sessions, ending higher on Thursday, despite the US Fed raising interest rates by 25 basis points for the first time in three years, a day before.
The holiday-shortened week witnessed Indian benchmark indices making strong gains, with climbing 3.95% and adding 4.16% in the period.
The broad-based rally in the truncated week led the country’s top 10 most valued companies to add a whopping Rs 2.72 lakh crore to their market valuations.
An overall bullish trend in global equities, paired with positive developments on the Russia-Ukraine peace talks and receding prices are bringing relief to global markets and boosting investor sentiment.
Moreover, in the Indian market, the FIIs have once again started to engage in buying Indian shares, with investors on Dalal Street adding over Rs 19 lakh crore in the past 8 sessions.
Here’s a look at the market capitalization gained by the top 10 heavyweights in the past week.
- RIL’s (NS:) m-cap added Rs 54,904.27 crore to Rs 16.77 lakh crore.
- TCS’ (NS:) valuation jumped Rs 27,557.93 crore to Rs 13.59 lakh crore.
- HDFC Bank’s (NS:) m-cap shot up by Rs 46,283.99 crore to Rs 8.2 lakh crore.
- Infosys (NS:) gained Rs Rs 13,501.05 crore valuation to Rs 7.79 lakh crore.
- ICICI Bank’s (NS:) valuation climbed Rs 29,127.31 crore to Rs 5 lakh crore.
- HDFC’s (NS:) m-cap surged Rs 33,438.47 crore to Rs 4.37 lakh crore.
- Hindustan Unilever (NS:) gained Rs 1,703.45 crore to reach Rs 4.93 lakh crore.
- SBI (NS:) added Rs 27,978.65 crore of its m-cap at Rs 4.47 lakh crore.
- Bajaj Finance ‘s (NS:) m-cap grew by Rs 22,311.87 crore to Rs 4.22 lakh crore.
- Bharti Airtel ‘s (NS:) valuation rose by Rs 15,377.68 crore to Rs 3.96 lakh crore.
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