Mcap of 9 out of top-10 most valued firms jumps Rs 2.15 lakh cr
The combined market valuation of nine of the top-10 most valued firms jumped by Rs 2.15 lakh crore last week, with Bharti Airtel emerging as the biggest winner, in line with improving global risk sentiment. Last week, the BSE benchmark Sensex jumped 1,274.95 points, or 1.68 per cent.
“Indian equity markets extended their recovery during the week, supported by easing geopolitical concerns, softer crude oil prices, and improving global risk sentiment. Although negotiations remain ongoing and the agreement is yet to be fully implemented, the reduction in geopolitical uncertainty has significantly improved market sentiment,” Ponmudi R, CEO — Enrich Money, an online trading and wealth tech firm, said.
The market valuation of Bharti Airtel surged by Rs 52,432.67 crore to Rs 11,62,963.30 crore, the most among the top-10 firms. Life Insurance Corporation of India (LIC) added Rs 51,675.23 crore, taking its valuation to Rs 5,56,726.30 crore. The valuation of Bajaj Finance soared by Rs 26,553.71 crore to Rs 5,98,501.25 crore, and that of Reliance Industries jumped by Rs 22,464.02 crore to Rs 17,71,882.96 crore. The market capitalisation (mcap) of Larsen & Toubro climbed Rs 21,929.12 crore to Rs 5,79,126.95 crore, and that of State Bank of India rallied Rs 16,753.57 crore to Rs 9,55,415.07 crore.
HDFC Bank’s mcap edged higher by Rs 11,948.72 crore to Rs 12,01,263.14 crore, and that of Hindustan Unilever advanced by Rs 6,661.1 crore to Rs 5,15,946.75 crore. The valuation of ICICI Bank rose by Rs 4,724.22 crore to Rs 9,66,021.99 crore. However, the market value of TCS declined by Rs 12,699.49 crore to Rs 7,69,350.13 crore. Reliance Industries remained the most valued domestic firm, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
