Market recap: Top-10 firms add Rs 1 lakh crore in market capitalisation; Airtel, Bajaj Finance lead gains
0 3 min 2 hrs


Market recap: Top-10 firms add Rs 1 lakh crore in market capitalisation; Airtel, Bajaj Finance lead gains

Dalal Street ended the last week with gains, with six of the country’s 10 most valued companies together adding more than Rs 1 lakh crore to their market capitalisation. Bharti Airtel and Bajaj Finance emerged as the biggest gains as equities ended the week on a positive note.The broader market remained firm, with the BSE Sensex advancing 663.44 points, or 0.86%, over the week, while the NSE Nifty gained 214.85 points, or 0.89%.According to Ajit Mishra, SVP, Research, Religare Broking Ltd, the market was supported by strong domestic macroeconomic indicators, robust GST collections and improving industrial activity. “Expectations of a more accommodative global monetary policy following softer-than-expected US labour market data further strengthened investor sentiment,” he added.Among the top-10 companies, Bharti Airtel recorded the largest increase in market valuation, 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 climbed by Rs 16,084.29 crore to Rs 10,11,695.03 crore, while Life Insurance Corporation of India (LIC) gained Rs 8,601.99 crore, taking its valuation to Rs 5,44,139.55 crore.HDFC Bank also posted gains, with its market value increasing by Rs 7,664.89 crore to Rs 12,33,646.33 crore. Hindustan Unilever’s valuation rose by Rs 6,461.38 crore to Rs 5,17,086.30 crore.On the other hand, Larsen & Toubro recorded the steepest decline among the top-10 companies, with its market capitalisation falling by Rs 26,572.2 crore to Rs 5,53,978.63 crore.Reliance Industries saw its valuation shrink by Rs 18,945.56 crore to Rs 17,64,981.36 crore, while State Bank of India (SBI) lost Rs 4,846.08 crore, bringing its market capitalisation down to Rs 9,59,891.92 crore.Tata Consultancy Services (TCS) also ended the week lower, with its market valuation slipping by Rs 1,031.15 crore to Rs 7,57,175.27 crore.Despite the decline, Reliance Industries retained its position as the country’s most valued company. It was followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.

Leave a Reply

Your email address will not be published. Required fields are marked *