Mumbai, June 29 (IANS) Nine out of India’s 10 most valuable companies saw a combined increase of Rs 2.34 lakh crore in market capitalisation this week, as strong momentum in the stock market pushed their valuations higher.

The BSE benchmark index also posted a solid gain of 1,650.73 points, or 2 per cent, during the week.

Among the top gainers was Bharti Airtel, whose market value went up by Rs 51,860.65 crore to Rs 11.56 lakh crore.

HDFC Bank added Rs 37,342.73 crore to reach a valuation of Rs 15.44 lakh crore. Bajaj Finance saw its market capitalisation rise by Rs 26,037.88 crore, taking its total value to Rs 5.88 lakh crore.

ICICI Bank’s value grew by Rs 24,649.73 crore, reaching Rs 10.43 lakh crore. LIC also made gains of Rs 13,250.87 crore, with its valuation climbing to Rs 6.05 lakh crore.

State Bank of India (SBI) added Rs 8,389.15 crore to stand at Rs 7.18 lakh crore. TCS saw a modest increase of Rs 3,183.91 crore, pushing its valuation to Rs 12.45 lakh crore.

Hindustan Unilever registered a small gain of Rs 293.7 crore, now valued at Rs 5.41 lakh crore.

Infosys was the only company among the top 10 to witness a fall in value. Its market capitalisation dropped by Rs 5,494.8 crore, bringing it down to Rs 6.68 lakh crore.

In terms of ranking by market capitalisation, the top companies are HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever.

Meanwhile, in the previous week, the combined market capitalisation of six out of India’s ten most valuable companies increased by Rs 1.62 lakh crore, driven by strong investor confidence in the equity markets.

This surge in market value during the previous week came alongside a 1.58 per cent rise in the benchmark Sensex, which climbed 1,289.57 points during the same period.

–IANS

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