Nine of India's 10 most valuable companies collectively added Rs 2.15 lakh crore in market capitalisation last week, driven by a strong rally in equities and improving global risk appetite. The benchmark BSE Sensex climbed 1,274.95 points, or 1.68%, during the week, according to a PTI report.
Bharti Airtel leads gains
Bharti Airtel recorded the sharpest rise in market capitalisation among the top-10 firms, with its valuation jumping Rs 52,432.67 crore to Rs 11,62,963.30 crore. Life Insurance Corporation of India (LIC) added Rs 51,675.23 crore, taking its market value to Rs 5,56,726.30 crore.
Bajaj Finance saw its valuation rise by Rs 26,553.71 crore to Rs 5,98,501.25 crore, while Reliance Industries added Rs 22,464.02 crore to reach Rs 17,71,882.96 crore. The market capitalisation of Larsen & Toubro increased by Rs 21,929.12 crore to Rs 5,79,126.95 crore.
State Bank of India and HDFC Bank gain
State Bank of India gained Rs 16,753.57 crore to Rs 9,55,415.07 crore. HDFC Bank added Rs 11,948.72 crore, taking its valuation to Rs 12,01,263.14 crore. Hindustan Unilever's market value rose by Rs 6,661.1 crore to Rs 5,15,946.75 crore. ICICI Bank also ended the week higher, with its valuation increasing by Rs 4,724.22 crore to Rs 9,66,021.99 crore.
TCS the only laggard
Tata Consultancy Services (TCS) was the lone laggard among the top-10 firms, with its market capitalisation declining by Rs 12,699.49 crore to Rs 7,69,350.13 crore. Reliance Industries remained India'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.
Market sentiment improves
"Indian equity markets extended their recovery during the week, supported by easing geopolitical concerns, softer crude oil prices, and improving global risk sentiment. Although negotiations remain ongoing and the agreement is yet to be fully implemented, the reduction in geopolitical uncertainty has significantly improved market sentiment," said Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, as quoted by PTI.
