The Indian equity markets witnessed a robust performance last week, leading to a significant wealth creation for the country's most valuable companies. The combined market capitalisation of seven out of the top ten valued firms surged by an impressive ₹96,200.95 crore, driven by a broadly positive sentiment among investors.
Broad Market Rally Fuels Growth
This substantial increase in market valuation was supported by a steady upward movement in the broader market indices. The benchmark BSE Sensex advanced by 474.75 points, or 0.55%, over the course of the week. In a clear sign of bolstered investor confidence, the index also scaled a fresh all-time high of 86,055.86 on Thursday, underscoring the optimistic mood dominating the trading floors.
Top Gainers and Contributors
Among the elite top-ten club, the gains were led by heavyweight players. Reliance Industries emerged as the biggest winner, single-handedly adding a massive ₹28,282.86 crore to its market cap, which swelled to ₹21,20,335.47 crore. It was closely followed by Bajaj Finance, which registered an impressive gain of ₹20,347.52 crore, taking its total valuation to ₹6,45,676.11 crore.
Other major contributors to the week's wealth creation included the banking giants. HDFC Bank saw its market worth rise by ₹13,611.11 crore to ₹15,48,743.67 crore, while ICICI Bank added ₹13,599.62 crore, reaching a valuation of ₹9,92,725.97 crore.
The list of gainers was rounded out by:
- Hindustan Unilever (up ₹7,671.41 crore to ₹5,79,644.16 crore)
- State Bank of India (up ₹6,415.28 crore to ₹9,04,185.15 crore)
- Infosys (up ₹6,273.15 crore to ₹6,47,961.98 crore)
Notable Declines Amidst the Rally
However, not all companies shared in the week's prosperity. Three constituents of the top-ten list witnessed a contraction in their market capitalisation. Bharti Airtel experienced the sharpest decline, shedding a substantial ₹35,239.01 crore from its valuation. The other two companies that faced erosion in their market worth were the Life Insurance Corporation of India (LIC), which saw a decrease of ₹4,996.75 crore, and Tata Consultancy Services (TCS), whose valuation fell by ₹3,762.81 crore.
Despite these declines, the overall ranking of the top-ten most valued firms remained stable. Reliance Industries held firmly to the top position, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC.
