Mumbai, Oct 19 (IANS) The combined market valuation of seven of India’s top 10 most valued companies rose by Rs 2.16 lakh crore last week, led by strong gains in Bharti Airtel and other heavyweight stocks.

The rise came in line with a positive trend in the broader market, as the BSE Sensex jumped 1,451.37 points, or 1.75 per cent, during the week.

Among the top 10 firms, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, and Hindustan Unilever posted gains in their market capitalisation.

However, Tata Consultancy Services (TCS), Infosys, and Life Insurance Corporation of India (LIC) saw a decline in their valuations.

Bharti Airtel recorded strong gains, adding Rs 41,254.73 crore to reach a valuation of Rs 11.47 lakh crore.

ICICI Bank’s market capitalisation surged by Rs 40,123.88 crore to Rs 10,26,491.35 crore, while HDFC Bank added Rs 33,185.59 crore, taking its valuation to Rs 15,40,210.78 crore.

Bajaj Finance’s valuation also rose sharply by Rs 28,903.45 crore to Rs 6,65,899.19 crore.

Hindustan Unilever’s market value increased by Rs 17,774.65 crore to Rs 6.12 lakh crore, and State Bank of India added Rs 7,938.34 crore to reach Rs 8.21 lakh crore.

On the losing side, Infosys’ valuation fell by Rs 30,306.35 crore to Rs 5.99 lakh crore, while TCS slipped Rs 23,807.01 crore to Rs 10.72 lakh crore.

LIC’s market capitalisation also dipped by Rs 7,684.87 crore to Rs 5.60 lakh crore.

Among the country’s most valued companies are HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Hindustan Unilever, Infosys, and LIC.

Analysts said the surge in market valuations reflects renewed investor confidence, supported by strong corporate earnings and a bullish sentiment in equities.

–IANS

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