The combined market capitalisation of eight of India’s top 10 most valued companies surged by Rs 4.55 lakh crore last week, driven by a sharp rally in equities, with Reliance Industries emerging as the biggest gainer.
The benchmark BSE Sensex rose by 2,857.46 points, or 3.53 per cent, during the week, lifting valuations across banking, telecom, finance and consumer stocks.
Among the top 10 firms, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC) and Hindustan Unilever registered gains. In contrast, Tata Consultancy Services (TCS) and Infosys witnessed a decline in market value.
Reliance Industries led the surge, adding Rs 1,41,887.97 crore to take its valuation to Rs 19,63,358.79 crore. LIC’s market capitalisation jumped by Rs 64,926.1 crore to Rs 5,70,198.54 crore.
Bharti Airtel’s valuation climbed by Rs 52,516.39 crore to Rs 11,62,288.64 crore, while ICICI Bank gained Rs 52,476.97 crore to reach Rs 10,06,258.82 crore. Bajaj Finance added Rs 48,659.83 crore, pushing its valuation to Rs 6,10,830.20 crore.
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State Bank of India’s market capitalisation rose by Rs 45,460.79 crore to Rs 9,84,353.06 crore. HDFC Bank’s valuation increased by Rs 32,350.28 crore to Rs 14,48,249.63 crore, while Hindustan Unilever gained Rs 17,058.03 crore to reach Rs 5,69,482.18 crore.
However, IT majors TCS and Infosys bucked the trend. TCS saw its valuation decline by Rs 88,172.8 crore to Rs 10,64,242.35 crore, while Infosys lost Rs 63,462.66 crore, taking its market capitalisation to Rs 6,26,067.95 crore.
IT stocks faced selling pressure in line with weak global technology sector trends, amid valuation concerns and uncertainties linked to rapid advancements in artificial intelligence.
Reliance Industries remained India’s most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, LIC and Hindustan Unilever.
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