Nine Sensex Giants Add Rs 2.15 Lakh Crore in a Single Week
A diplomatic agreement between the United States and Iran injected fresh confidence into Indian equity markets last week. Buyers returned in force and the BSE Sensex closed the week up 1,274.95 points, a gain of 1.68 percent. Nine of the ten most valuable companies on the Sensex by market capitalisation ended the week higher, together adding Rs 2.15 lakh crore to their combined valuation. Only one company in the group moved against the tide.
Bharti Airtel Claims the Biggest Weekly Gain
Telecom major Bharti Airtel was the standout performer of the week among the Sensex heavyweights. Its market capitalisation jumped Rs 52,432.67 crore to reach Rs 11,62,963.30 crore, the largest absolute gain in the group. Life Insurance Corporation of India came close behind, posting a market cap increase of Rs 51,675.23 crore to reach Rs 5,56,726.30 crore. Bajaj Finance also had a strong week, adding Rs 26,553.71 crore to take its market value to Rs 5,98,501.25 crore.
Reliance, L&T and SBI Post Solid Weekly Gains
Reliance Industries saw its valuation climb Rs 22,464.02 crore to Rs 17,71,882.96 crore. Larsen and Toubro added Rs 21,929.12 crore, with its market cap rising to Rs 5,79,126.95 crore. State Bank of India gained Rs 16,753.57 crore, pushing its market capitalisation to Rs 9,55,415.07 crore.
HDFC Bank, Hindustan Unilever and ICICI Bank Round Off the Gainers
HDFC Bank's market capitalisation grew Rs 11,948.72 crore, ending the week at Rs 12,01,263.14 crore. Hindustan Unilever added Rs 6,661.10 crore, with its valuation settling at Rs 5,15,946.75 crore. ICICI Bank rounded off the list of gainers with an increase of Rs 4,724.22 crore, taking its market cap to Rs 9,66,021.99 crore.
TCS Stands Alone as the Week's Only Loser
While the broader trend among the Sensex top 10 was firmly upward, Tata Consultancy Services bucked the move. The IT major shed Rs 12,699.49 crore during the week, with its market capitalisation settling at Rs 7,69,350.13 crore. TCS was the only company in the group to end the week with a lower valuation than it started with.
Reliance Holds the Top Spot as Rankings Stay Broadly Stable
In terms of overall market capitalisation ranking among the Sensex top 10, Reliance Industries retained its position at number one. HDFC Bank held second place, followed by Bharti Airtel in third, ICICI Bank in fourth and State Bank of India in fifth. Tata Consultancy Services was ranked sixth, Bajaj Finance seventh, Larsen and Toubro eighth, Life Insurance Corporation of India ninth and Hindustan Unilever tenth.
