Improving global risk appetite and a strong rally in stocks helped nine of India’s 10 most valuable companies add a combined Rs 2.15 lakh crore in market valuation last week, with Bharti Airtel emerging as the biggest gainer.The benchmark BSE Sensex rose by 1,274.95 points, or 1.68%, during the week, news agency PTI reported.“Indian stock markets continued to rebound during the week, supported by easing geopolitical concerns, lower crude oil prices, and improving global risk sentiment. Although negotiations are still ongoing and the agreement is yet to be fully implemented, the reduction in geopolitical uncertainty has led to a significant improvement in market sentiment,” Ponmudi R, CEO of Enrich Money, an online trading and wealth technology company, was quoted as saying by PTI.Among the 10 most valuable companies, Bharti Airtel registered the biggest rise in market capitalization, with its valuation jumping from Rs 52,432.67 crore to Rs 11,62,963.30 crore.Life Insurance Corporation of India (LIC) added Rs 51,675.23 crore, taking its market capitalization to Rs 5,56,726.30 crore.Bajaj Finance saw its valuation rise by Rs 26,553.71 crore to Rs 5,98,501.25 crore, while Reliance Industries added Rs 22,464.02 crore to Rs 17,71,882.96 crore.
Larsen & Toubro’s market capitalization rose by Rs 21,929.12 crore to Rs 5,79,126.95 crore, while State Bank of India gained Rs 16,753.57 crore to Rs 9,55,415.07 crore.HDFC Bank added Rs 11,948.72 crore, taking its valuation to Rs 12,01,263.14 crore, while Hindustan Unilever’s market capitalization rose by Rs 6,661.1 crore to Rs 5,15,946.75 crore.ICICI Bank also ended the week on a higher note, with its valuation increasing by Rs 4,724.22 crore to Rs 9,66,021.99 crore.Tata Consultancy Services (TCS) was the only laggard among the top 10 companies, with its market capitalization falling by Rs 12,699.49 crore to Rs 7,69,350.13 crore.Reliance Industries remained the most valuable company in India, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.