The combined market capitalization of the ten most valued companies soared by an impressive ₹3,84,004.73 crore during the holiday-shortened week, driven by a strong rally in the equity markets. HDFC Bank and Bharti Airtel led the gains among the top performers.
Over the same period, the BSE Sensex surged by 3,395.94 points, or 4.51%, while the NSE Nifty climbed 1,023.1 points, marking a 4.48% rise.
Markets witnessed a robust recovery and surged over 4.5 per cent in the holiday-shortened week, driven by favorable cues from both domestic and global fronts, Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
“The rally was primarily fueled by optimism surrounding the deferral of tariffs and recent exemptions on select products, raising hopes for potential negotiations that could mitigate the impact on global trade.
“As the week progressed, market participants responded positively to a slew of favorable developments, including updates on a normal monsoon, easing retail inflation — which raised hopes for potential policy rate cuts — and the absence of any major negative surprises from global markets,” Mishra added.
HDFC Bank saw the largest gain in market valuation among the top ten companies, surging by ₹76,483.95 crore to reach ₹14,58,934.32 crore.
Bharti Airtel’s market value increased by ₹75,210.77 crore, pushing its total valuation to ₹10,77,241.74 crore.
Reliance Industries added ₹74,766.36 crore to its valuation, taking it to ₹17,24,768.59 crore, while ICICI Bank’s market cap rose by ₹67,597 crore to ₹10,01,948.86 crore.
State Bank of India witnessed a rise of ₹38,420.49 crore in its valuation, reaching ₹7,11,381.46 crore.
Tata Consultancy Services (TCS) saw its market cap grow by ₹24,114.55 crore to ₹11,93,588.98 crore, and Bajaj Finance gained ₹14,712.85 crore, bringing its valuation to ₹5,68,061.13 crore.
ITC’s valuation increased by ₹6,820.2 crore to ₹5,34,665.77 crore, while Infosys added ₹3,987.14 crore, reaching ₹5,89,846.48 crore.
Hindustan Unilever’s market cap rose by ₹1,891.42 crore to ₹5,57,945.69 crore.
Reliance Industries continued to hold the top spot as the most valued Indian company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and ITC.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.