The combined market capitalization of seven of India’s top ten companies surged by Rs. 1,18,328.29 crore this week, reflecting a wave of optimism in the equity market. Leading this increase were the State Bank of India (SBI) and Bharti Airtel, both of which showcased strong investor confidence during this rally. The Bombay Stock Exchange (BSE) benchmark index also experienced significant gains, climbing by 721.53 points, or 0.88%, over the course of the week.
SBI saw its market value rise by Rs. 35,953.25 crore, reaching a total of Rs. 7,95,910 crore. Bharti Airtel, another major player, gained Rs. 33,214.77 crore, elevating its market capitalization to Rs. 11,18,952.64 crore. Reliance Industries, which remains the most valued company in India, added Rs. 17,389.23 crore to its valuation, now standing at Rs. 19,04,898.51 crore. Tata Consultancy Services (TCS) also marked a significant increase, climbing by Rs. 12,952.75 crore to achieve a market cap of Rs. 11,46,879.47 crore.
Performance Across Major Companies
The Life Insurance Corporation of India (LIC) gained Rs. 12,460.25 crore, bringing its market capitalization to Rs. 5,65,612.92 crore. Infosys experienced an uptick of Rs. 6,127.73 crore, resulting in a total market value of Rs. 6,39,901.03 crore. HDFC Bank noted a modest increase of Rs. 230.31 crore, raising its valuation to Rs. 14,84,816.26 crore.
Despite the overall market rally, a few companies faced challenges. ICICI Bank reported a decline in its valuation by Rs. 10,707.87 crore, bringing its total down to Rs. 10,01,654.46 crore. Bajaj Finance also dipped, losing Rs. 6,346.93 crore to reach Rs. 6,17,892.72 crore. Hindustan Unilever saw a decrease of Rs. 5,039.87 crore, resulting in a market cap of Rs. 6,01,225.16 crore.
The week’s performance highlights a renewed investor confidence particularly in the financial and telecommunications sectors. As the market continues to evolve, investors are closely monitoring whether this upward trend will sustain in the coming weeks. The implications of these developments may set the tone for investment strategies moving forward, especially in key sectors driving economic growth in India.