HDFC Bank and Airtel lead ₹93,000cr market value surge
Big week for some of India's top companies: HDFC Bank, Bharti Airtel, Reliance Industries, and LIC saw their combined market value jump by nearly ₹93,000 crore.
HDFC Bank led the pack with a boost of ₹35,808 crore to reach ₹12.69 lakh crore in value.
Airtel wasn't far behind, adding almost ₹34,897 crore and bringing its total to ₹11.99 lakh crore.
LIC, Reliance Industries rise, market slips
LIC grew by over ₹16,000 crore to hit a market cap of ₹5.6 lakh crore.
Reliance stayed on top as India's most valued company at ₹17.71 lakh crore after gaining another ₹6,225 crore.
But while these giants soared individually, the overall stock market slipped, thanks to fresh tensions in West Asia and rising oil prices.
The Sensex dropped 194 points and Nifty fell 64 points; six big firms like ICICI Bank and TCS together lost nearly ₹49,300 crore in value last week.
As Ajit Mishra, SVP, Research at Religare Broking noted, "renewed geopolitical tensions in West Asia and a sharp spike in crude oil prices weighed on investor sentiment."