Reliance Industries Leads Market Surge: Top Firms Gain ₹2.20 Lakh Crore
Market Valuation Insights
New Delhi: The total market capitalization of four of the ten most valuable companies increased by ₹2.20 lakh crore during a holiday-shortened week, with Reliance Industries leading the charge.
The BSE benchmark Sensex experienced a rise of 249.29 points, translating to a 0.32 percent increase over the week.
Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, noted, "The markets concluded the week with slight gains, reflecting a volatile trading atmosphere influenced by mixed signals from both global and domestic fronts."
The week started positively, buoyed by reduced geopolitical tensions and steady advancements in Q4 earnings, which initially boosted market sentiment.
However, the upward momentum was tempered by increasing crude oil prices, negative signals from Asian markets, and ongoing outflows from foreign institutional investors (FIIs), Mishra added.
Among the gainers were Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS), and Bajaj Finance, while HDFC Bank, State Bank of India, ICICI Bank, Larsen & Toubro, Hindustan Unilever, and Life Insurance Corporation of India (LIC) collectively saw a decline of ₹1.24 lakh crore in their market valuations.
Reliance Industries alone contributed ₹1,39,655.8 crore to its market valuation, bringing it to ₹19,36,303.30 crore.
Bharti Airtel's valuation rose by ₹43,503.51 crore, reaching ₹11,49,222.13 crore.
TCS's market valuation increased by ₹27,569.83 crore to ₹8,94,933.95 crore, while Bajaj Finance saw a rise of ₹9,432.32 crore, totaling ₹5,83,123.13 crore.
In contrast, ICICI Bank's market capitalization fell by ₹45,364.62 crore to ₹9,04,980.78 crore.
State Bank of India experienced a drop of ₹30,922.57 crore, bringing its valuation to ₹9,85,829.96 crore.
HDFC Bank's market cap decreased by ₹20,951.31 crore to ₹11,87,274.17 crore, and Hindustan Unilever's valuation slipped by ₹18,420.79 crore to ₹5,28,799.01 crore.
LIC's valuation fell by ₹8,222.49 crore to ₹5,04,798.07 crore, while Larsen & Toubro's market cap dipped by ₹178.83 crore to ₹5,51,993.05 crore.
Currently, Reliance Industries holds the title of the most valuable domestic company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.