The combined market valuation of seven of the top-10 most valued firms in India increased by ₹1,18,328.29 crore last week. This surge was driven by an optimistic trend in equities, with the BSE benchmark rising 721.53 points or 0.88%. The biggest gainers were State Bank of India and Bharti Airtel, with their market valuations increasing by ₹35,953.25 crore and ₹33,214.77 crore, respectively.
The market capitalization of other top firms also saw significant gains. Reliance Industries’ valuation increased by ₹17,389.23 crore to ₹19,04,898.51 crore, while Tata Consultancy Services (TCS) saw a surge of ₹12,952.75 crore to ₹11,46,879.47 crore. Life Insurance Corporation of India (LIC) and Infosys also witnessed increases in their valuations, with LIC’s valuation rising by ₹12,460.25 crore to ₹5,65,612.92 crore and Infosys’ valuation climbing by ₹6,127.73 crore to ₹6,39,901.03 crore.
HDFC Bank’s market capitalization also went up by ₹230.31 crore to ₹14,84,816.26 crore. On the other hand, ICICI Bank, Bajaj Finance, and Hindustan Unilever were the laggards, with their market valuations declining by ₹10,707.87 crore, ₹6,346.93 crore, and ₹5,039.87 crore, respectively.
The ranking of the top-10 most valued firms remained largely unchanged, with Reliance Industries retaining its top spot, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC. The gains in market valuation were driven by positive investor sentiment and an overall uptrend in the equity market. The increases in market capitalization reflect the growing confidence of investors in these companies and the Indian economy as a whole.