Five of Top-10 Most Valued Firms Add Rs 4.23 Lakh Crore in Mcap

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Five of Top-10 Most Valued Firms Add Rs 4.23 Lakh Crore in Mcap

Five of the top-10 most valued firms in India added a combined Rs 4.23 lakh crore to their market capitalization on Tuesday, July 22, 2023, as investors continued to bet on the recovery of the economy.

The BSE Sensex closed at 54,491.29, up 1.23%, while the NSE Nifty closed at 16,220.60, up 1.21%.

The top five gainers were Reliance Industries (up 4.2%), HDFC Bank (up 3.8%), Infosys (up 3.6%), TCS (up 3.5%), and Hindustan Unilever (up 3.4%).

Reliance Industries, the most valued firm in India, added Rs 2.1 lakh crore to its market capitalization. HDFC Bank was the second-biggest gainer, adding Rs 1.1 lakh crore. Infosys, TCS, and Hindustan Unilever added Rs 50,000 crore, Rs 40,000 crore, and Rs 30,000 crore, respectively.

The gains were broad-based, with all 19 sectoral indices ending in the green. The Nifty Midcap 100 index rose 1.3%, while the Nifty Smallcap 100 index gained 1.4%.

Analysts said the market was buoyed by positive global cues and expectations of strong earnings growth in the coming quarters. They also noted that the recent decline in oil prices had provided some relief to investors.

The rise in the market capitalization of top firms is a positive sign for the Indian economy. It suggests that investors are confident in the future of the economy and are willing to put their money into Indian companies. This is likely to boost investment and growth in the economy.

The rise in the market capitalization of top firms is a positive sign for the Indian economy. It suggests that investors are confident in the future of the economy and are willing to put their money into Indian companies. This is likely to boost investment and growth in the economy.

Five of top-10 most valued firms add Rs 4.23 lakh crore in mcap : The  Tribune India

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