India's top 6 firms add ₹1L crore in market cap
What's the story
The Indian stock market witnessed a major boost last week, with the combined market capitalization of six top companies rising by ₹1 lakh crore. The growth was mainly driven by Bharti Airtel and Bajaj Finance, who took advantage of positive equity trends and strong domestic economic indicators. Despite some major players witnessing valuation losses, the overall market sentiment remained optimistic due to expectations of global monetary policy easing.
Top gainers
Bharti Airtel, Bajaj Finance lead gains
Bharti Airtel's market valuation rose by ₹36,529.21 crore to ₹11,63,877.30 crore, the highest among the top 10 firms. Bajaj Finance also witnessed a major jump in its valuation by ₹33,059.83 crore to ₹6,43,141.36 crore. ICICI Bank's valuation increased by ₹16,084.29 crore to ₹10,11,695.03 crore. Life Insurance Corporation of India (LIC) saw a rise of ₹8,601.99 crore in its market capitalization, reaching ₹5,44,139.55 crore at the end of last week.
Market fluctuations
HDFC Bank, Hindustan Unilever also gain
HDFC Bank's market capitalization rose by ₹7,664.89 crore to ₹12,33,646.33 crore, while Hindustan Unilever's valuation increased by ₹6,461.38 crore to ₹5,17,086.30 crore. However, Larsen & Toubro's market cap fell by ₹26,572.2 crore to ₹5,53,978.63 crore, while Reliance Industries declined by ₹18,945.56 crore and State Bank of India (SBI) declined by ₹4,846.08 crore.