New Delhi: The combined market valuation of the top-ten most valued firms jumped by a whopping Rs 3,84,004.73 crore in the holiday-shortened last week, in-tandem with a smart rally in equities, with HDFC Bank and Bharti Airtel emerging as the biggest gainers.
Last week, the BSE benchmark Sensex jumped 3,395.94 points or 4.51 per cent, and the NSE Nifty surged 1,023.1 points or 4.48 per cent.
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.
The market valuation of HDFC Bank zoomed by Rs 76,483.95 crore to Rs 14,58,934.32 crore, the most among the top-ten firms.
Bharti Airtel added Rs 75,210.77 crore taking its valuation to Rs 10,77,241.74 crore.
Reliance Industries’ market valuation surged by Rs 74,766.36 crore to Rs 17,24,768.59 crore and that of ICICI Bank rallied by Rs 67,597 crore to Rs 10,01,948.86 crore.
State Bank of India’s valuation jumped Rs 38,420.49 crore to Rs 7,11,381.46 crore.
The market capitalisation (mcap) of Tata Consultancy Services (TCS) soared by Rs 24,114.55 crore to Rs 11,93,588.98 crore and that of Bajaj Finance advanced Rs 14,712.85 crore to Rs 5,68,061.13 crore.
ITC’s mcap went up by Rs 6,820.2 crore to Rs 5,34,665.77 crore and that of Infosys climbed Rs 3,987.14 crore to Rs 5,89,846.48 crore.
The valuation of Hindustan Unilever gained Rs 1,891.42 crore to Rs 5,57,945.69 crore.
Reliance Industries remained the most valued domestic firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC.
PTI
