Indian equity markets concluded the previous week on a robust note, delivering a significant wealth boost to the nation's corporate giants. The combined market valuation of seven out of the ten most-valued companies in India witnessed a staggering increase of Rs 1,23,724.19 crore. This bullish momentum was primarily fueled by heavyweight Reliance Industries, which stood out as the foremost wealth creator during this period.
Benchmark Indices Reflect Positive Sentiment
The upbeat mood in the market was clearly mirrored in the key indices. The BSE Sensex advanced by 720.56 points, or 0.84%, over the course of the week. This broad-based rally saw gains from a mix of sector leaders including Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Larsen & Toubro, and Hindustan Unilever. However, the trend was not universal, with Tata Consultancy Services (TCS), Infosys, and Bajaj Finance bucking the trend and recording declines in their market capitalisation.
Winners and Losers: A Detailed Breakdown
Reliance Industries spearheaded the charge, with its market cap soaring by Rs 45,266.12 crore to reach an impressive Rs 21,54,978.60 crore. Not far behind was the public sector behemoth, State Bank of India, which added Rs 30,414.89 crore, elevating its valuation to Rs 9,22,461.77 crore.
The engineering and construction major Larsen & Toubro saw its market value swell by Rs 16,204.34 crore to Rs 5,72,640.56 crore. Consumer goods leader Hindustan Unilever witnessed a climb of Rs 14,626.21 crore, taking its capitalisation to Rs 5,51,637.04 crore.
Other notable gainers included:
- HDFC Bank: Market cap rose by Rs 13,538.43 crore to Rs 15,40,303.87 crore.
- ICICI Bank: Valuation increased by Rs 3,103.99 crore to Rs 9,68,773.14 crore.
- Bharti Airtel: Added Rs 570.21 crore, reaching Rs 12,01,262.53 crore.
IT Sector Faces Selling Pressure
In contrast to the broader rally, the information technology sector encountered headwinds. Tata Consultancy Services (TCS) experienced a reduction in its market value by Rs 10,745.72 crore, settling at Rs 11,75,914.62 crore. Its peer, Infosys, also faced selling pressure, losing Rs 6,183.25 crore to end the week at Rs 6,81,635.59 crore.
The non-banking financial company Bajaj Finance too saw a dip, with its valuation contracting by Rs 5,693.58 crore to Rs 6,16,430.43 crore.
The Final Tally of Top Valued Firms
At the close of the trading week, Reliance Industries firmly retained its crown as the country's most valuable company. The subsequent rankings were held by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro, and Hindustan Unilever, respectively. This reshuffle highlights the dynamic nature of market leadership, driven by sectoral rotations and investor sentiment.
