The combined market valuation of four of the top-10 most valued firms jumped ₹ 92,995.48 crore last week, with HDFC Bank and Bharti Airtel emerging as the biggest gainers.
Last week, the BSE benchmark Sensex declined 194.52 points, or 0.25 per cent, and the NSE Nifty dipped 63.95 points, or 0.26 per cent.
“Markets ended the week marginally lower, snapping a four-week winning streak amid renewed geopolitical tensions in West Asia and a sharp spike in crude oil prices,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
Markets started the week on a positive note, supported by easing crude prices, encouraging Q1 business updates, improving monsoon progress, and broad-based buying, he said.
However, sentiment weakened during mid-week following escalating IranUS tensions, triggering a sharp sell-off before benchmark indices recovered a significant part of the losses over the final two sessions, Mishra added.
The gainers from the top-10 pack were Reliance Industries, HDFC Bank, Bharti Airtel and Life Insurance Corporation of India (LIC), while ICICI Bank, State Bank of India, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro and Hindustan Unilever faced a combined erosion of ₹49,294.13 crore from their valuation.
HDFC Bank’s market valuation surged ₹35,808.09 crore to ₹12,69,454.42 crore, the most among the top-10 firms.
The valuation of Bharti Airtel jumped ₹34,896.92 crore to ₹11,98,774.22 crore.
LIC added ₹16,065.5 crore, taking its valuation to ₹5,60,205.05 crore, while the valuation of Reliance Industries climbed Rs 6,224.97 crore to ₹17,71,206.33 crore.
However, the market capitalisation (mcap) of Hindustan Unilever dropped by ₹12,088.65 crore to ₹5,04,997.65 crore.
Larsen & Toubro’s valuation declined by ₹11,040.23 crore to ₹5,42,938.40 crore.
The mcap of TCS diminished by ₹8,574.87 crore to ₹7,48,600.40 crore, and that of Bajaj Finance eroded by ₹7,813.58 crore to ₹6,35,327.78 crore.
ICICI Bank’s mcap edged lower by ₹6,315.32 crore to ₹10,05,379.71 crore, while the valuation of State Bank of India dipped by ₹3,461.48 crore to ₹9,56,430.44 crore.
Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever.
