Mcap of 6 of top-10 most valued firms surges by ₹1 lakh crore; Airtel, Bajaj Finance top gainers

The combined market capitalisation of six of the country's 10 most-valued companies increased by nearly ₹1 lakh crore last week, driven by a broadly positive trend in the equity markets. Among them, Bharti Airtel and Bajaj Finance recorded the biggest gains.

During the week, the BSE Sensex advanced 663.44 points, or 0.86%, while the NSE Nifty climbed 214.85 points, or 0.89%.

According to Ajit Mishra, SVP, Research at Religare Broking Ltd, markets closed the week on a strong note, buoyed by resilient domestic macroeconomic indicators, robust GST collections, and improving industrial activity.

"Expectations of a more accommodative global monetary policy following softer-than-expected US labour market data further strengthened investor sentiment," he added.

Among the top-10 most valued companies, Bharti Airtel recorded the biggest increase in market capitalisation, with its valuation rising by ₹36,529.21 crore to ₹11,63,877.30 crore.

Bajaj Finance added ₹33,059.83 crore, taking its market value to ₹6,43,141.36 crore. ICICI Bank saw its valuation climb by ₹16,084.29 crore to ₹10,11,695.03 crore, while Life Insurance Corporation of India (LIC) gained ₹8,601.99 crore, pushing its market capitalisation to ₹5,44,139.55 crore.

HDFC Bank's market value increased by ₹7,664.89 crore to ₹12,33,646.33 crore, while Hindustan Unilever added ₹6,461.38 crore, taking its valuation to ₹5,17,086.30 crore.

On the other hand, Larsen & Toubro registered the steepest decline, with its market capitalisation falling ₹26,572.20 crore to ₹5,53,978.63 crore. Reliance Industries lost ₹18,945.56 crore in market value, bringing its valuation down to ₹17,64,981.36 crore, while State Bank of India (SBI) shed ₹4,846.08 crore to ₹9,59,891.92 crore. Tata Consultancy Services (TCS) also witnessed a marginal decline of ₹1,031.15 crore, with its market capitalisation slipping to ₹7,57,175.27 crore.

Despite the weekly changes, Reliance Industries retained its position as India's most valuable company by market capitalisation, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.

Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.

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