Six of India's top-10 most valuable companies gained ₹88,678.1 crore in market value during a holiday-shortened week, with ICICI Bank emerging as the biggest winner. According to The Economic Times, the BSE benchmark Sensex climbed 297.57 points (0.38%) while the NSE Nifty advanced 42.9 points (0.17%). As reported by Ajit Mishra, SVP Research at Religare Broking Ltd, markets ended the week with modest gains, advancing in three of four trading sessions, with sentiment remaining constructive due to easing crude oil prices and improving geopolitical developments in West Asia. The positive market sentiment was also supported by selective buying by foreign institutional investors (FIIs).
The latest weekly performance reinforces Reliance Industries as India's most valuable company, with its market capitalisation surging ₹12,043.96 crore to ₹17,83,926.92 crore. ICICI Bank emerged as the biggest gainer, with its valuation jumping ₹29,588.75 crore to ₹9,95,610.74 crore, followed by HDFC Bank which added ₹24,718.3 crore to reach ₹12,25,981.44 crore. Bajaj Finance also performed well, with its valuation climbing ₹11,580.28 crore to ₹6,10,081.53 crore. In the current rankings, Reliance Industries retains the number one position, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
While several companies gained significantly, Bharti Airtel faced the biggest decline, with its market capitalisation tumbling ₹35,615.21 crore to ₹11,27,348.09 crore. LIC also eroded value, with its valuation declining ₹21,188.74 crore to ₹5,35,537.56 crore, and TCS saw a ₹11,143.71 crore decline to ₹7,58,206.42 crore. Hindustan Unilever also faced pressure, with its market cap dipping ₹5,321.83 crore to ₹5,10,624.92 crore. Conversely, State Bank of India rallied ₹9,322.93 crore to ₹9,64,738 crore, and Larsen & Toubro edged higher by ₹1,423.88 crore to ₹5,80,550.83 crore.
Financial services companies continue to demonstrate strong performance, with ICICI Bank leading weekly gains and HDFC Bank maintaining its position among the top performers. As reported by The Economic Times, this sustained presence reflects sustained investor confidence in the sector, indicating the sector's resilience and growth potential in the Indian market. The latest weekly performance reinforces the dominance of financial services firms in India's corporate landscape, with ICICI Bank and HDFC Bank both featuring prominently among the top gainers during the recent trading period.
