Key facts
- The market capitalization of eight of the top-10 most valued firms increased by Rs 1.90 lakh crore in the past week.
- ICICI Bank saw the largest gain, adding Rs 56,223 crore to its market cap.
- HDFC Bank, State Bank of India, Bajaj Finance, Bharti Airtel, Larsen & Toubro, Hindustan Unilever, and Reliance Industries also saw increases in their valuations.
- Tata Consultancy Services (TCS) and Life Insurance Corporation of India (LIC) experienced erosion in their market capitalization.
- The BSE benchmark Sensex jumped 1.73% and the NSE Nifty surged 1% last week.
- Investor confidence improved due to optimism surrounding a potential US-Iran peace deal.
The market capitalization of eight of the top-10 most valued Indian firms saw a collective surge of Rs 1.90 lakh crore last week, mirroring a broader rally in equities. ICICI Bank emerged as the top performer, with its valuation increasing by Rs 56,223 crore to Rs 9,61,297.77 crore.
Other firms that experienced significant gains included HDFC Bank, which added Rs 38,571.11 crore, and State Bank of India, with a jump of Rs 36,137.87 crore. Bajaj Finance, Bharti Airtel, Larsen & Toubro, Hindustan Unilever, and Reliance Industries also saw their market valuations rise.
Conversely, Tata Consultancy Services (TCS) and Life Insurance Corporation of India (LIC) faced a decline in their market capitalization, eroding Rs 13,296.47 crore and Rs 822.25 crore, respectively. Reliance Industries maintained its position as the most valued firm, followed by HDFC Bank and Bharti Airtel.
The overall market sentiment was boosted by an improving global outlook and supportive measures from the Reserve Bank of India aimed at attracting foreign currency inflows. Investor confidence was further bolstered by optimism surrounding a potential US-Iran peace deal, which raised hopes for easing geopolitical tensions and stabilizing energy markets.