The combined market capitalisation of six of India’s 10 most-valued companies increased by ₹88,678.1 crore in the holiday-shortened week, led by ICICI Bank, which recorded the biggest gain.
During the week, the BSE advanced 297.57 points, or 0.38%, while the NSE Nifty rose 42.9 points, or 0.17%.
“Markets ended the holiday-shortened week with modest gains, advancing in three of the four trading sessions. Sentiment remained constructive, supported by easing crude oil prices, improving geopolitical developments in West Asia, and selective buying by foreign institutional investors (FIIs),” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
Top gainers and losers
Among the top-10 most valued companies, Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India, Bajaj Finance, and Larsen & Toubro emerged as gainers during the week, while Bharti Airtel, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC), and Hindustan Unilever witnessed a decline in their market valuations.
ICICI Bank posted the biggest increase in market capitalisation, adding ₹29,588.75 crore to reach ₹9,95,610.74 crore. HDFC Bank followed with a gain of ₹24,718.3 crore, taking its valuation to ₹12,25,981.44 crore.
Reliance Industries’ value rose by ₹12,043.96 crore to ₹17,83,926.92 crore, while Bajaj Finance added ₹11,580.28 crore, lifting its valuation to ₹6,10,081.53 crore.
State Bank of India’s market capitalisation increased by ₹9,322.93 crore to ₹9,64,738 crore, whereas Larsen & Toubro’s valuation inched up by ₹1,423.88 crore to ₹5,80,550.83 crore.
On the other hand, Bharti Airtel registered the steepest decline, with its market capitalisation falling ₹35,615.21 crore to ₹11,27,348.09 crore.
LIC’s valuation dropped by ₹21,188.74 crore to ₹5,35,537.56 crore, while TCS lost ₹11,143.71 crore, bringing its capitalisation down to ₹7,58,206.42 crore. Hindustan Unilever also saw its valuation shrink by ₹5,321.83 crore to ₹5,10,624.92 crore.
Despite these changes, Reliance Industries remained the country’s most valued company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.
(With inputs from PT)
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.