The Indian stock market witnessed a spectacular recovery last week, with eight of the country's top ten most valuable companies collectively adding a staggering ₹2,05,185.08 crore to their market valuation. This impressive surge came as benchmark indices staged a strong rebound after a period of sustained weakness.
Market Indices Show Strong Recovery
The bullish sentiment was clearly reflected in the performance of key indices. The BSE Sensex climbed 1,346.5 points, representing a solid 1.62% gain, while the NSE Nifty rose by 417.75 points, marking a 1.64% increase. This upward movement signaled a significant turnaround in investor confidence and market dynamics.
Top Performers Lead the Charge
Telecommunications giant Bharti Airtel emerged as one of the standout performers, with its market capitalisation soaring by ₹55,652.54 crore to reach ₹11,96,700.84 crore. Close on its heels was Mukesh Ambani's Reliance Industries, which witnessed an impressive gain of ₹54,941.84 crore, elevating its valuation to ₹20,55,379.61 crore.
India's largest IT services provider, Tata Consultancy Services, contributed significantly to the overall gains by adding ₹40,757.75 crore to its market cap, which now stands at ₹11,23,416.17 crore. The banking sector also showed robust performance, with ICICI Bank growing by ₹20,834.35 crore to ₹9,80,374.43 crore and State Bank of India gaining ₹10,522.9 crore to reach ₹8,92,923.79 crore.
Other Notable Gainers and Losers
Other companies that contributed to the positive momentum include Infosys, which saw its valuation rise by ₹10,448.32 crore to ₹6,24,198.80 crore. HDFC Bank added ₹9,149.13 crore to reach ₹15,20,524.34 crore, while FMCG major Hindustan Unilever registered a more modest gain of ₹2,878.25 crore, taking its valuation to ₹5,70,187.06 crore.
However, not all companies shared in the bullish sentiment. Bajaj Finance experienced a significant decline of ₹30,147.94 crore, bringing its market capitalisation down to ₹6,33,573.38 crore. Life Insurance Corporation of India (LIC) also saw its valuation drop by ₹9,266.12 crore to ₹5,75,100.42 crore.
Market Leadership Remains Unchanged
Despite the fluctuations in market capitalisation, the ranking of India's most valuable companies remained consistent. Reliance Industries maintained its position at the top, followed by HDFC Bank, Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, LIC, and Hindustan Unilever.
This remarkable recovery in market valuations indicates renewed investor confidence and suggests that Indian equities may be entering a new phase of growth after the recent corrective phase. The broad-based nature of the gains across multiple sectors points to healthy underlying market fundamentals.
