Six of the top-10 most valued companies witnessed a combined surge of Rs 1 lakh crore in their market capitalisation last week, driven by a largely positive trend in equities. Bharti Airtel and Bajaj Finance emerged as the top gainers, according to data from the Bombay Stock Exchange (BSE).
Market Performance and Sentiment
Last week, the BSE benchmark Sensex climbed 663.44 points, or 0.86 per cent, while the NSE Nifty rose 214.85 points, or 0.89 per cent. Markets ended the week on a firm footing, supported by resilient domestic macroeconomic indicators, healthy Goods and Services Tax (GST) collections, and improving industrial activity, said Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd.
"Expectations of a more accommodative global monetary policy following softer-than-expected US labour market data further strengthened investor sentiment," Mishra added.
Top Gainers: Bharti Airtel and Bajaj Finance
Bharti Airtel recorded the highest jump among the top-10 firms, with its market valuation rising by Rs 36,529.21 crore to reach Rs 11,63,877.30 crore. Bajaj Finance added Rs 33,059.83 crore, taking its valuation to Rs 6,43,141.36 crore.
Other Gainers: ICICI Bank, LIC, HDFC Bank, Hindustan Unilever
ICICI Bank's valuation surged by Rs 16,084.29 crore to Rs 10,11,695.03 crore. Life Insurance Corporation of India (LIC) climbed Rs 8,601.99 crore to Rs 5,44,139.55 crore. HDFC Bank’s market capitalisation rallied Rs 7,664.89 crore to Rs 12,33,646.33 crore, while Hindustan Unilever edged higher by Rs 6,461.38 crore to Rs 5,17,086.30 crore.
Losers: Larsen & Toubro, Reliance Industries, SBI, TCS
Conversely, Larsen & Toubro saw its market cap tumble by Rs 26,572.2 crore to Rs 5,53,978.63 crore. Reliance Industries eroded by Rs 18,945.56 crore to Rs 17,64,981.36 crore. State Bank of India (SBI) declined by Rs 4,846.08 crore to Rs 9,59,891.92 crore. Tata Consultancy Services (TCS) dipped by Rs 1,031.15 crore to Rs 7,57,175.27 crore.
Top Valued Firms Ranking
Reliance Industries remained the country’s most valued firm, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.
