Market capitalisation of top ten companies rose by a huge Rs 3.10 lakh crore in four trading sessions last week on strong rally in domestic markets amid positive global cues. Tata Consultancy Services (TCS) logged a Rs 73,753.12 crore rise in its market cap to Rs 7.56 lakh crore, becoming the biggest gainer in the top-10 chart.
Market cap of mortgage lender HDFC surged Rs 58,499.9 crore to close the week at Rs 3.32 lakh crore. It's subsidiary HDFC Bank saw market cap gaining Rs 35,213.71 crore to Rs 5.49 lakh crore.
Mukesh Ambani-led Reliance Industries market cap rose Rs 31,506.3 crore to Rs 9.30 lakh crore in the last four trading sessions. Financial markets were closed on account of Maharashtra Day on Friday. Investors saw their wealth surge by Rs 7.68 lakh crore on signs of relaxation in coronavirus lockdowns globally and central banks infusing liquidity in order to keep economies afloat. While Sensex gained 2,388 points (7.63%) , Nifty rose 705 points (7.70%) in last four sessions.
"Most major global markets have rallied in the current week as several countries have started to talk about lifting the lockdown," said Sanjeev Zarbade, VP PCG Research, Kotak Securities.
"Reports of encouraging results about Gilead's drug in treating COVID-19 as well as starting of human trials on a vaccine also fuelled the rally," he added.
Encouraging results from a COVID-19 drug trial in the US turbocharged sentiment and short-covering on expiry of F&O contracts at home on Friday also added to investor wealth.
Subsequently, market capitalisation of private sector lender ICICI Bank gained Rs 29,180.58 crore to Rs 2.45 lakh crore in last four sessions. IT behemoth Infosys gained Rs 24,659.57 crore in market cap 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 that of Hindustan Unilever Limited went up by Rs 21,660.41 crore to Rs 5.15 lakh crore.
Telecom major Bharti Airtel added Rs 10,911.11 crore in market cap to Rs 2.80 lakh crore . FMCG firm ITC logged a rise of Rs 2,642.83 crore to Rs 2.23 lakh crore. In the ranking of top-10 firms, RIL retained the number one ranking followed by TCS, HDFC Bank, HUL, HDFC, Infosys, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank and ITC.