The combined market valuation of eight of the top-10 most valued firms surged by Rs 1,87,497.45 crore in a holiday-shortened last week, with Bharti Airtel emerging as the biggest gainer, in line with a positive trend in equities. Markets ended the truncated week with notable gains, extending their uptrend for the second consecutive week, supported by easing geopolitical tensions and improving risk sentiment.
Optimism surrounding a potential US-Iran peace agreement underpinned market confidence, while stable domestic fundamentals further aided momentum, according to Ajit Mishra, SVP, Research, Religare Broking Ltd. The market valuation of Bharti Airtel jumped Rs 58,831.52 crore to Rs 11,25,125.21 crore, the most among the top-10 firms.
Life Insurance Corporation of India (LIC) surged Rs 27,608.62 crore to Rs 5,32,691.31 crore. Tata Consultancy Services (TCS) added Rs 20,731.64 crore, taking its market valuation to Rs 9,34,063.56 crore. Reliance Industries rallied by Rs 20,231.05 crore to Rs 18,47,317.84 crore, while Larsen & Toubro climbed Rs 18,577.91 crore to Rs 5,63,314.50 crore.
ICICI Bank’s market capitalization edged higher by Rs 18,266.82 crore to Rs 9,65,008.67 crore. The valuation of State Bank of India went up by Rs 12,599.79 crore to Rs 9,97,229.77 crore, and Infosys increased by Rs 10,650.1 crore to Rs 5,34,774.50 crore. However, HDFC Bank’s market capitalization dropped by Rs 16,163.04 crore to Rs 12,31,315.53 crore, and Bajaj Finance diminished by Rs 9,769.3 crore to Rs 5,65,437.17 crore.
