The combined market capitalisation of six of India’s 10 most valuable listed companies increased by more than Rs 1 lakh crore last week, with Bharti Airtel and Bajaj Finance emerging as the biggest contributors amid a positive trend in domestic equities.
The BSE Sensex advanced 663.44 points, or 0.86 per cent, during the week, while the NSE Nifty gained 214.85 points, or 0.89 per cent.
According to Ajit Mishra, Senior Vice President, Research at Religare Broking, market sentiment was supported by resilient domestic macroeconomic indicators, healthy GST collections and improving industrial activity.
He added that expectations of a more accommodative global monetary policy, following weaker-than-expected US labour market data, further boosted investor confidence.
Bharti Airtel recorded the largest increase in market valuation among the top-10 companies, with its market capitalisation rising by Rs 36,529.21 crore to Rs 11,63,877.30 crore.
Bajaj Finance followed closely, adding Rs 33,059.83 crore to take its valuation to Rs 6,43,141.36 crore.
ICICI Bank’s market capitalisation increased by Rs 16,084.29 crore to Rs 10,11,695.03 crore, while Life Insurance Corporation of India (LIC) added Rs 8,601.99 crore to reach Rs 5,44,139.55 crore.
HDFC Bank’s valuation rose by Rs 7,664.89 crore to Rs 12,33,646.33 crore, while Hindustan Unilever added Rs 6,461.38 crore, taking its market capitalisation to Rs 5,17,086.30 crore.
Among the laggards, Larsen & Toubro witnessed the steepest decline, with its market capitalisation falling by Rs 26,572.20 crore to Rs 5,53,978.63 crore.
Reliance Industries lost Rs 18,945.56 crore in market value to end the week at Rs 17,64,981.36 crore, while State Bank of India shed Rs 4,846.08 crore to Rs 9,59,891.92 crore. Tata Consultancy Services also saw its valuation decline by Rs 1,031.15 crore to Rs 7,57,175.27 crore.
Despite the weekly decline, Reliance Industries retained its position as India’s most valuable listed company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever. |
