The combined market valuation of 6 of the top-10 most valued firms surged by ₹1 lakh crore last week, with Bharti Airtel and Bajaj Finance emerging as the biggest gainers, amid a largely positive trend in equities.
Last week, the BSE benchmark Sensex climbed 663.44 points, or 0.86 per cent, and the NSE Nifty rose 214.85 points, or 0.89 per cent.
Markets ended the week on a firm footing, supported by resilient domestic macroeconomic indicators, healthy GST collections and improving industrial activity, Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
“Expectations of a more accommodative global monetary policy following softer-than-expected US labour market data further strengthened investor sentiment,” he added.
The market valuation of Bharti Airtel jumped ₹36,529.21 crore to ₹11,63,877.30 crore, the most among the top-10 firms.
Bajaj Finance added ₹33,059.83 crore, taking its valuation to ₹6,43,141.36 crore.
ICICI Bank’s valuation surged ₹16,084.29 crore to ₹10,11,695.03 crore, and that of Life Insurance Corporation of India (LIC) climbed ₹8,601.99 crore to ₹5,44,139.55 crore.
The market capitalisation (mcap) of HDFC Bank rallied ₹7,664.89 crore to ₹12,33,646.33 crore, and that of Hindustan Unilever edged higher by ₹6,461.38 crore to ₹5,17,086.30 crore.
However, the mcap of Larsen & Toubro tumbled ₹26,572.2 crore to ₹5,53,978.63 crore.
The mcap of Reliance Industries eroded by ₹18,945.56 crore to ₹17,64,981.36 crore, and that of State Bank of India (SBI) declined by ₹4,846.08 crore to ₹9,59,891.92 crore.
The market valuation of Tata Consultancy Services (TCS) dipped by ₹1,031.15 crore to ₹7,57,175.27 crore.
Reliance Industries remained the country’s most valued firm, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
