Market recap of the week: Seven of top 10 firms add Rs 1.23 lakh crore in mcap; Reliance leads gains

Last week, Indian equity markets ended on a firm note, pushing up the combined market value of seven of the country’s ten most-valued companies by Rs 1,23,724.19 crore. The rally was led by Reliance Industries, which emerged as the biggest wealth creator during the period. The positive sentiment was reflected in the benchmark indices as well, with the BSE Sensex rising 720.56 points, or 0.84%, over the week. Gains were recorded by Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Larsen & Toubro and Hindustan Unilever. However, Tata Consultancy Services, Infosys and Bajaj Finance moved in the opposite direction, seeing a decline in their market valuations. Reliance Industries added the most value, with its market capitalisation jumping by Rs 45,266.12 crore to Rs 21,54,978.60 crore. State Bank of India followed, posting a rise of Rs 30,414.89 crore to reach a valuation of Rs 9,22,461.77 crore. Engineering and construction major Larsen & Toubro saw its market value increase by Rs 16,204.34 crore to Rs 5,72,640.56 crore, while Hindustan Unilever’s valuation climbed by Rs 14,626.21 crore to Rs 5,51,637.04 crore. HDFC Bank recorded an increase of Rs 13,538.43 crore, taking its market capitalisation to Rs 15,40,303.87 crore. ICICI Bank’s valuation rose by Rs 3,103.99 crore to Rs 9,68,773.14 crore, and Bharti Airtel added Rs 570.21 crore to reach Rs 12,01,262.53 crore. On the other hand, IT majors faced selling pressure. TCS saw its market value decline by Rs 10,745.72 crore to Rs 11,75,914.62 crore, while Infosys lost Rs 6,183.25 crore, ending the week at Rs 6,81,635.59 crore. Bajaj Finance also saw a drop, with its valuation falling by Rs 5,693.58 crore to Rs 6,16,430.43 crore. At the end of the week, Reliance Industries remained as the top of country’s most valuable companies. It was followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and Hindustan Unilever.