The combined market capitalisation of six of the country’s 10 most-valued companies increased by nearly ₹1 lakh crore last week, driven by a broadly positive trend in the equity markets. Among them, Bharti Airtel and Bajaj Finance recorded the biggest gains.
During the week, the BSE advanced 663.44 points, or 0.86%, while the NSE Nifty climbed 214.85 points, or 0.89%.
According to Ajit Mishra, SVP, Research at Religare Broking Ltd, markets closed the week on a strong note, buoyed by resilient domestic macroeconomic indicators, robust GST collections, and improving industrial activity.
“Expectations of a more accommodative global monetary policy following softer-than-expected US labour market data further strengthened investor sentiment,” he added.
Top gainers and losers
Among the top-10 most valued , Bharti Airtel recorded the biggest increase in market capitalisation, with its valuation rising by ₹36,529.21 crore to ₹11,63,877.30 crore.
Bajaj Finance added ₹33,059.83 crore, taking its market value to ₹6,43,141.36 crore. ICICI Bank saw its valuation climb by ₹16,084.29 crore to ₹10,11,695.03 crore, while Life Insurance Corporation of India (LIC) gained ₹8,601.99 crore, pushing its market capitalisation to ₹5,44,139.55 crore.
HDFC Bank’s market value increased by ₹7,664.89 crore to ₹12,33,646.33 crore, while Hindustan Unilever added ₹6,461.38 crore, taking its valuation to ₹5,17,086.30 crore.
On the other hand, Larsen & Toubro registered the steepest decline, with its market capitalisation falling ₹26,572.20 crore to ₹5,53,978.63 crore. Reliance Industries lost ₹18,945.56 crore in value, bringing its valuation down to ₹17,64,981.36 crore, while State Bank of India (SBI) shed ₹4,846.08 crore to ₹9,59,891.92 crore. Tata Consultancy Services (TCS) also witnessed a marginal decline of ₹1,031.15 crore, with its market capitalisation slipping to ₹7,57,175.27 crore.
Despite the weekly changes, Reliance Industries retained its position as India’s most valuable company by market capitalisation, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.