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The Indian stock market witnessed a surge in investor sentiment last week, with nine out of the top ten most valuable firms collectively adding ₹2,01,552.69 crore to their market valuations. This positive trend was fueled by a robust performance of the BSE benchmark, which reached a record high of 83,116.19 on Thursday, gaining 1,707.01 points or 2.10 percent during the same period.
Leading the charge was Bharti Airtel, whose market capitalization soared by a significant ₹54,282.62 crore, bringing its total valuation to ₹9,30,490.20 crore. This impressive gain secured Airtel's position as the largest gainer among the top ten companies. The robust performance of Airtel can be attributed to its strong presence in the telecommunications sector and its strategic expansion into digital services.
Other notable gainers included ICICI Bank, with a ₹29,662.44 crore increase in market capitalization, bringing its total valuation to ₹8,80,867.09 crore. Tata Consultancy Services (TCS) added ₹23,427.12 crore to its valuation, reaching ₹16,36,189.63 crore. Hindustan Unilever's market cap soared by ₹22,438.6 crore to ₹6,89,358.33 crore, while HDFC Bank saw its valuation grow by ₹22,093.99 crore, reaching ₹12,70,035.77 crore.
Infosys experienced a considerable increase in market valuation, adding ₹17,480.49 crore to reach ₹8,07,299.55 crore. ITC's valuation also surged by ₹15,194.17 crore, bringing its total to ₹6,42,531.82 crore. Reliance Industries, the current leader of the top ten most valued firms, witnessed a ₹9,878.19 crore jump in its market cap, reaching ₹19,92,160.61 crore. State Bank of India's valuation rose by ₹7,095.07 crore to ₹7,05,535.20 crore.
In contrast, Life Insurance Corporation of India (LIC) experienced a slight decline in market capitalization, dropping by ₹3,004.38 crore to ₹6,54,004.76 crore. This decline could be attributed to various factors, including market fluctuations and investor sentiment towards the insurance sector.
Reliance Industries continues to hold the top spot in the list of the top ten most valued firms, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC, and ITC. The overall positive performance of these companies reflects the robust growth and resilience of the Indian economy, particularly in key sectors like technology, finance, and consumer goods.
Source: Market capitalisation of 9 of top 10 most valued firms rises by ₹2 lakh crore; Bharti Airtel shines