Market valuation of India's top 4 firms rises by ₹92,995cr
What's the story
The combined market capitalization of four of the top 10 most valued companies in India surged by a whopping ₹92,995.48 crore last week. The top gainers were HDFC Bank and Bharti Airtel, who led the charge with significant increases in their respective market valuations. Despite a slight dip in benchmark indices Sensex and Nifty due to geopolitical tensions and rising crude oil prices, the markets managed to recover some losses toward the end of the trading week.
Market analysis
Ajit Mishra explains the market's performance last week
Ajit Mishra, SVP of Research at Religare Broking Ltd, observed that "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." He added that the markets started on a positive note due to easing crude prices, encouraging Q1 business updates, improving monsoon progress, and broad-based buying.
Valuation increase
HDFC Bank and Bharti Airtel lead the charge
HDFC Bank's market valuation jumped by ₹35,808.09 crore to ₹12,69,454.42 crore, the highest among the top 10 companies. Bharti Airtel's valuation also saw a major jump of ₹34,896.92 crore to ₹11,98,774.22 crore during this period. LIC added another ₹16,065.5 crore to its valuation which now stands at ₹5,60,205.05 crore, while Reliance Industries's valuation climbed by ₹6,224.97 crore, taking it up to an impressive total of over ₹17 lakh crore in market cap value.
Valuation decline
Hindustan Unilever suffered a loss of ₹12,088.65cr
The market capitalization of Hindustan Unilever fell by ₹12,088.65 crore to ₹5,04,997.65 crore. Larsen & Toubro's valuation also fell by ₹11,040.23 crore to ₹5,42,938.40 crore during this period under review. The mcap of TCS fell by a lesser amount of ₹8,574.87 crore taking it down to a little less than ₹7.5 lakh crore. Meanwhile, Bajaj Finance's mcap eroded further with another loss worth around ₹7,000 crore bringing its total to ₹6,35,327.78 crore.