Mumbai, June 14 (IANS) The combined market valuation of eight of India’s 10 most-valued companies surged by Rs 1.90 trillion last week, driven by a strong rally in domestic equities.

The positive momentum came as benchmark indices posted solid gains during the week. The Sensex climbed 1,284.61 points, or 1.73 per cent, while the Nifty advanced 256.2 points, or 1 per cent.

Market sentiment remained upbeat amid optimism over a possible peace agreement between the United States and Iran, which raised hopes of easing geopolitical tensions and bringing stability to global energy markets.

The improved outlook boosted investor confidence and supported gains across several heavyweight stocks.

Among the top-10 most-valued firms, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro, and Hindustan Unilever recorded gains in their market capitalisation.

In contrast, Tata Consultancy Services (TCS) and Life Insurance Corporation of India (LIC) witnessed a decline in valuation.

ICICI Bank topped the chart in terms of weekly gains, with its market capitalisation rising by Rs 56,223 crore to Rs 9.61 lakh crore.

HDFC Bank added Rs 38,571 crore, taking its valuation to Rs 11.89 lakh crore, while State Bank of India saw its market value increase by Rs 36,138 crore to Rs 9.39 lakh crore.

Bajaj Finance registered a gain of Rs 18,367 crore, pushing its valuation to Rs 5.72 lakh crore.

Bharti Airtel’s market capitalisation climbed by Rs 14,380 crore to Rs 11.11 lakh crore.

Engineering and construction major Larsen & Toubro added Rs 13,241 crore to reach a valuation of Rs 5.57 lakh crore, while Hindustan Unilever gained Rs 10,984 crore, taking its market capitalisation to Rs 5.09 lakh crore.

On the other hand, TCS witnessed the steepest decline among the top-10 firms, with its market capitalisation falling by Rs 13,296 crore to Rs 7.82 lakh crore. LIC’s valuation also slipped by Rs 822 crore to Rs 5.05 lakh crore.

At the end of the week, among India’s most-valued company includes HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.

–IANS

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