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Top 8 Firms Add Rs 4.13 Lakh Crore in Market Value Amid Market Rally

Indian equity markets rallied sharply last week, boosting the combined market valuation of eight top companies by over Rs 4.13 lakh crore. The surge was led by banking heavyweights HDFC Bank and ICICI Bank, with Bajaj Finance, L&T, and Bharti Airtel also posting significant gains. Market sentiment was buoyed by optimism over a US-Iran ceasefire and a sharp drop in crude oil prices below $100. While most top firms gained, Infosys and Reliance Industries saw marginal declines in their market capitalisation.

Key Points: Top Firms Gain Rs 4.13 Lakh Crore in Market Valuation

  • HDFC Bank leads gains
  • ICICI Bank valuation jumps
  • Broad-based equity rebound
  • Crude oil price drop eases concerns
  • Infosys and Reliance see minor dips
2 min read

Top 8 firms' market valuation jump Rs 4.13 lakh crore last week

Eight of India's top-10 companies saw a massive Rs 4.13 lakh crore surge in market cap last week, led by HDFC Bank and ICICI Bank.

"Market sentiment remained buoyant amid optimism over a temporary US-Iran ceasefire. - Ajit Mishra"

Mumbai, April 12

Indian equity markets witnessed a sharp rally last week, lifting the combined market valuation of eight out of the top-10 most valued companies by a massive Rs 4,13,003.23 crore.

The gain was led by strong gains in banking heavyweights HDFC Bank and ICICI Bank.

The upbeat sentiment in the market was reflected in benchmark indices, with the Sensex surging 4,230.7 points or 5.77 per cent, while the Nifty climbed 1,337.5 points or 5.88 per cent during the week.

According to Ajit Mishra of Religare Broking Limited, market sentiment remained buoyant amid optimism over a temporary US-Iran ceasefire.

However, lingering geopolitical uncertainties capped the pace of gains toward the latter part of the week.

He also noted that a sharp drop in crude oil prices below the $100 mark eased domestic concerns and supported a broad-based rebound in equities.

Among the top performers, HDFC Bank emerged as the biggest gainer, adding Rs 91,282.67 crore to take its market capitalisation to Rs 12,47,478.57 crore.

ICICI Bank followed closely, with its valuation jumping Rs 76,036.36 crore to Rs 9,46,741.85 crore.

Financial services major Bajaj Finance saw its market value surge by Rs 60,980.35 crore to Rs 5,75,206.47 crore, while engineering giant Larsen & Toubro added Rs 47,624.97 crore, taking its valuation to Rs 5,44,736.59 crore.

Telecom major Bharti Airtel gained Rs 45,873.43 crore to reach a market capitalisation of Rs 10,66,293.69 crore.

Public sector lender State Bank of India also witnessed a strong rally, with its valuation rising Rs 43,614.67 crore to Rs 9,84,629.98 crore.

In the IT space, Tata Consultancy Services added Rs 26,303.49 crore to its market cap, which stood at Rs 9,13,331.92 crore.

FMCG major Hindustan Unilever also posted gains, with its valuation climbing Rs 21,287.29 crore to Rs 5,06,477.89 crore.

However, not all companies shared in the rally. IT giant Infosys saw its market capitalisation decline by Rs 3,285.03 crore to Rs 5,24,124.40 crore.

Similarly, Reliance Industries experienced a marginal erosion of Rs 947.28 crore, taking its valuation to Rs 18,27,086.79 crore.

Despite the dip, Reliance Industries retained its position as India's most valued company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank and Tata Consultancy Services.

- IANS

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Reader Comments

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Priya S
Great to see SBI performing so well alongside the private banks! Public sector companies getting their due recognition in the market is heartening. However, I wish some of these massive valuations would trickle down to better interest rates for us common savers.
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Michael C
Interesting to see the drop in crude oil prices had such a direct impact. As someone watching the markets, it's a clear reminder of how global geopolitics and commodity prices drive our local indices. The US-Iran situation easing up was a major relief.
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Rohit P
HDFC Bank and ICICI Bank leading the charge! 🚀 But I'm a bit worried this is a temporary rally driven by external factors. The article itself says gains were capped later in the week due to uncertainties. We need sustainable domestic growth, not just reacting to global news.
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Sarah B
The numbers are staggering, but what does this mean for the average person? My mutual fund NAV went up, which is good, but I'm more concerned about inflation. Does this market wealth help control the price of groceries and fuel? That's the real benchmark for me.
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Karthik V
L&T and Bajaj Finance posting huge gains is a very positive sign. It shows infrastructure and consumer finance are in high demand, which are pillars for a growing economy. Bullish on India's long-term story! #InvestInIndia
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