Value of 8 out of top 10 companies increases:ICICI Bank shares surge by ₹56,223 crore; mega gains for SBI and HDFC Bank

Due to the rally in the stock market last week, the market capitalization of 8 out of the country’s top-10 most valuable companies increased by ₹1.90 lakh crore. During this period, private sector ICICI Bank made the most profit and topped the list. ICICI Bank’s valuation increased the most by ₹56,223 crore, reaching a total of ₹9.61 lakh crore. HDFC Bank’s market cap increased by ₹38,571 crore, reaching ₹11.89 lakh crore. Additionally, the value of SBI, Bajaj Finance, Bharti Airtel, Larsen Toubro, Hindustan Unilever, and Reliance Industries also increased. Meanwhile, the market value of TCS and LIC decreased last week. Reliance is Number 1 among the country’s Top-10 Most Valuable Companies Meanwhile, after last week’s trading, Reliance Industries remains at the top in terms of valuation. It is followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen Toubro, Hindustan Unilever, and LIC. Last week, Sensex rose by 1,284 points and Nifty by 256 points Last week, the Sensex rose by 1,284.61 (1.73%) points and the Nifty by 256.2 (1%) points. On Friday, June 12, the Sensex jumped 1,695 points to close at 75,527, while the Nifty climbed 461 points to reach 23,622. Reasons for market rally: Global sentiment and RBI’s decisions Ajit Mishra, SVP (Research) at Religare Broking Limited, stated that the Indian stock market ended a volatile week with strength. The market has broken the two-week losing streak. The market was supported by improved global sentiment and supportive measures taken by the Reserve Bank of India (RBI) to attract foreign exchange inflow. Market surged on hopes of a US-Iran peace deal According to Ajit Mishra, the optimism surrounding a potential peace agreement between the US and Iran has strengthened investor confidence. Hopes of this agreement have increased the likelihood of reduced geopolitical tensions and stabilized energy markets, which had a direct positive impact on the equity market. What is Market Capitalization? Market cap is the value of a company’s total outstanding shares, i.e., all shares currently held by its shareholders. It is calculated by multiplying the total number of shares issued by the company by their price. Let’s understand this with an example… Suppose… Company ‘A’ has 1 crore shares bought by people in the market. If the price of one share is 20 rupees, then the market value of the company will be 1 crore x 20, which is 20 crore rupees. The market value of companies increases or decreases due to the rise or fall in share prices. There are several other reasons for this… What is the impact of market cap fluctuations on the company and investors?