Market Valuation of Nine Top-10 Firms Surges by Rs.2.15 Trillion; Bharti Airtel Tops Gainers
The combined market capitalization of nine of India's top-10 most valued companies increased by over Rs.2.15 trillion last week, reflecting strong investor confidence despite volatility in the broader market.
Among the biggest gainers, Bharti Airtel emerged as the top performer, with its market valuation rising by Rs.52,432.67 crore to reach Rs.11.63 lakh crore.
Among the biggest gainers, Bharti Airtel emerged as the top performer, with its market valuation rising by Rs.52,432.67 crore to reach Rs.11.63 lakh crore.
Reliance Industries retained its position as India's most valuable listed company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India (SBI), Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro (L&T), Life Insurance Corporation of India (LIC), and Hindustan Unilever Ltd (HUL).
Reliance Industries added Rs.22,464.02 crore to its market capitalization, taking its valuation to Rs.17.72 lakh crore. Engineering and infrastructure giant L&T also witnessed strong gains, with its market value increasing by Rs.21,929.12 crore to Rs.5.79 lakh crore.
LIC registered a significant jump of Rs.51,675.23 crore, pushing its market capitalization to Rs.5.57 lakh crore. SBI's valuation climbed by Rs.16,753.57 crore to Rs.9.55 lakh crore, while HDFC Bank added Rs.11,948.72 crore to reach a market capitalization of Rs.12.01 lakh crore.
Consumer goods major Hindustan Unilever gained Rs.6,661.10 crore, taking its valuation to Rs.5.16 lakh crore. Meanwhile, ICICI Bank's market capitalization increased by Rs.4,724.22 crore to Rs.9.66 lakh crore.
In contrast, Tata Consultancy Services (TCS) was the only company among the top 10 to witness a decline, with its market value falling by Rs.12,699.49 crore to Rs.7.69 lakh crore.
In contrast, Tata Consultancy Services (TCS) was the only company among the top 10 to witness a decline, with its market value falling by Rs.12,699.49 crore to Rs.7.69 lakh crore.
Despite the weekly gains in market capitalization, Indian equities ended Friday on a weaker note. The benchmark Sensex snapped its five-session winning streak amid heavy selling pressure in information technology stocks.
At the close of trade, the Sensex dropped 607.08 points, or 0.78%, to settle at 76,802.90. The broader Nifty 50 index also declined by 154.90 points, or 0.64%, ending the session at 24,013.10.
At the close of trade, the Sensex dropped 607.08 points, or 0.78%, to settle at 76,802.90. The broader Nifty 50 index also declined by 154.90 points, or 0.64%, ending the session at 24,013.10.
Market experts attributed the pullback to profit-booking in technology stocks and cautious investor sentiment following the recent rally. However, the sharp rise in the valuation of most top-listed companies underscores the resilience of India's equity markets.
