The combined market valuation of eight of the top-10 most valued firms surged by ₹1,87,497.45 crore in a holiday-shortened last week, with Bharti Airtel emerging as the biggest gainer, in line with a positive trend in equities.
Last week, the BSE benchmark Sensex jumped 943.29 points or 1.21 per cent, and the NSE Nifty climbed 302.95 points or 1.25 per cent.
“Markets ended the truncated week with notable gains, extending their uptrend for the second consecutive week, supported by easing geopolitical tensions and improving risk sentiment. Optimism surrounding a potential US–Iran peace agreement underpinned market confidence, while stable domestic fundamentals further aided momentum,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
The market valuation of Bharti Airtel jumped ₹58,831.52 crore to ₹11,25,125.21 crore, the most among the top-10 firms.
The valuation of Life Insurance Corporation of India (LIC) surged ₹27,608.62 crore to ₹5,32,691.31 crore.
Tata Consultancy Services (TCS) added ₹20,731.64 crore, taking its market valuation to ₹9,34,063.56 crore.
The market capitalisation (mcap) of Reliance Industries rallied by ₹20,231.05 crore to ₹18,47,317.84 crore and that of Larsen & Toubro climbed ₹18,577.91 crore to ₹5,63,314.50 crore.
ICICI Bank’s mcap edged higher by ₹18,266.82 crore to ₹9,65,008.67 crore.
The valuation of State Bank of India went up by ₹12,599.79 crore to ₹9,97,229.77 crore and that of Infosys went by ₹10,650.1 crore to ₹5,34,774.50 crore.
However, mcap of HDFC Bank dropped by ₹16,163.04 crore to ₹12,31,315.53 crore.
The market valuation of Bajaj Finance diminished by ₹9,769.3 crore to ₹5,65,437.17 crore.
Reliance Industries remained the most valued firm followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys, LIC.