RIL became the first Indian firm to hit the Rs 9 lakh crore market valuation mark in intra-day trade.
The company's market valuation rose by Rs 32,525.22 crore to Rs 9,57,086.22 crore on the BSE.
ICICI Bank stock rose 4.05 per cent to close at Rs 452.05 on the BSE.
RIL, Kotak Mahindra Bank, ICICI Bank and SBI were the other firms that witnessed gains in their market capitalisation.
The market capitalisation (m-cap) of BSE-listed companies eroded by Rs 2,72,593.54 crore to Rs 1,39,70,356.22 crore.
RIL, HDFC Bank, HDFC and Kotak Mahindra Bank were the other winners in terms of market valuation.
The m-cap of ITC dropped by Rs 20,748.4 crore to stand at Rs 2,89,740.59 crore.
Reliance Industries Ltd (RIL) had on Monday raced past TCS to become the country's most-valued firm by market valuation.
At close of trade on Monday, RIL's m-cap stood at Rs 8,19,073.62 crore, which is Rs 7,226.43 crore more than that of TCS.
The oil-to-telecom giant saw its scrip jump 9.72 per cent to close at Rs 1,275 on the BSE.