Indian equities ended last week on a firm note, lifting the combined market capitalisation of seven of the top-10 most-valued companies by Rs 1,23,724.19 crore.
The rally came in step with a broader positive mood on Dalal Street, as the BSE benchmark rose 720.56 points, or 0.84 per cent, over the week. Reliance Industries led the gains, emerging as the biggest contributor to the overall rise in valuation.
From the top-10 list, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Larsen & Toubro and Hindustan Unilever ended the week with higher market capitalisation.
In contrast, Tata Consultancy Services (TCS), Infosys and Bajaj Finance saw a decline in their valuations. Reliance Industries’ market capitalisation jumped Rs 45,266.12 crore to Rs 21,54,978.60 crore, reinforcing its position at the top of the valuation table.
State Bank of India added Rs 30,414.89 crore, taking its market capitalisation to Rs 9,22,461.77 crore.
Larsen & Toubro’s valuation rose Rs 16,204.34 crore to Rs 5,72,640.56 crore, while Hindustan Unilever gained Rs 14,626.21 crore to reach Rs 5,51,637.04 crore.
HDFC Bank edged higher by Rs 13,538.43 crore to Rs 15,40,303.87 crore, and ICICI Bank advanced Rs 3,103.99 crore to Rs 9,68,773.14 crore. Bharti Airtel also closed in the green, with its market capitalisation rising Rs 570.21 crore to Rs 12,01,262.53 crore.
On the other side, TCS saw its market value erode by Rs 10,745.72 crore to Rs 11,75,914.62 crore. Infosys declined Rs 6,183.25 crore to Rs 6,81,635.59 crore, while Bajaj Finance shed Rs 5,693.58 crore to stand at Rs 6,16,430.43 crore.
