Market valuation of 8 top10 firms jumps by Rs 1.90 trillion; ICICI Bank leads gains

The combined market valuation of eight of the country’s top-10 most valued companies surged by Rs 1.90 trillion last week, with ICICI Bank emerging as the biggest gainer, adding Rs 56,223 crore to take its valuation to Rs 9,61,297.77 crore.

Among the gainers were Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India (SBI), Bajaj Finance, Larsen & Toubro (L&T), and Hindustan Unilever. Tata Consultancy Services (TCS) and Life Insurance Corporation of India (LIC) were the only two firms that witnessed a decline in market valuation.

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SBI’s market capitalisation rose by Rs 36,137.87 crore to Rs 9,38,661.50 crore, while HDFC Bank added Rs 38,571.11 crore, taking its valuation to Rs 11,89,314.42 crore.

The valuation of Bajaj Finance increased by Rs 18,366.57 crore to Rs 5,71,947.54 crore. L&T gained Rs 13,241.39 crore to reach Rs 5,57,197.83 crore, while Hindustan Unilever added Rs 10,984.34 crore, taking its market capitalisation to Rs 5,09,285.65 crore.

Reliance Industries’ valuation advanced by Rs 2,097.54 crore to Rs 17,49,418.94 crore, while Bharti Airtel’s market capitalisation climbed by Rs 14,380.14 crore to Rs 11,10,530.63 crore.

On the losing side, TCS saw its market capitalisation erode by Rs 13,296.47 crore to Rs 7,82,049.62 crore, while LIC’s valuation declined by Rs 822.25 crore to Rs 5,05,051.07 crore.

In terms of market-cap rankings, Reliance Industries retained its position as the country’s most valued company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, L&T, Hindustan Unilever, and LIC.

Indian stock markets ended Friday’s session on a strong note, with the Nifty closing above the 23,600 mark and the Sensex gaining more than 1,600 points. The rally was supported by easing crude oil prices, a stronger rupee, and positive global cues.

At the close, the Sensex was up 1,695.40 points, or 2.30 per cent, at 75,527.95, while the Nifty gained 461.30 points, or 1.99 per cent, to settle at 23,622.90.