Top Firms Add ₹4.55 Lakh Crore as Reliance Leads Rally

Market Rally Boosts Top Companies

Eight of India's ten most valued companies saw their combined market valuation surge by a remarkable ₹4,55,336.36 crore last week, propelled by a significant rally in the broader equity market. The BSE Sensex benchmark reflected this positive sentiment, climbing 2,857.46 points, or 3.53%, during the week. This widespread investor confidence translated into substantial gains for market leaders across various sectors, with Reliance Industries emerging as the foremost beneficiary.

Reliance Industries Leads the Gains

Reliance Industries Ltd (RIL) was the week's biggest winner, single-handedly adding ₹1,41,887.97 crore to its market capitalisation. This substantial increase brought its total valuation to an impressive ₹19,63,358.79 crore, cementing its position as the country's most valued company. The surge in RIL's valuation was a key driver of the overall gains seen among the top-tier firms, highlighting its significant weight in the market.

Banking and Financial Sector Shines

The financial and banking sectors also experienced a robust week. Life Insurance Corporation of India (LIC) recorded the second-largest gain, with its valuation soaring by ₹64,926.1 crore to reach ₹5,70,198.54 crore. ICICI Bank was not far behind, with its market capitalisation jumping by ₹52,476.97 crore to ₹10,06,258.82 crore. Bajaj Finance also posted strong results, adding ₹48,659.83 crore to its valuation, which now stands at ₹6,10,830.20 crore. The State Bank of India's market cap grew by ₹45,460.79 crore to ₹9,84,353.06 crore, while HDFC Bank's valuation advanced by ₹32,350.28 crore to ₹14,48,249.63 crore.

Strong Performance from Telecom and FMCG

Bharti Airtel demonstrated significant strength in the telecom sector, with its market valuation surging by ₹52,516.39 crore to ₹11,62,288.64 crore. In the fast-moving consumer goods (FMCG) space, Hindustan Unilever also contributed to the positive trend, appreciating by ₹17,058.03 crore to reach a total valuation of ₹5,69,482.18 crore.

IT Sector Faces Headwinds

In a stark contrast to the broader market trend, the information technology (IT) sector faced significant selling pressure. Tata Consultancy Services (TCS) and Infosys were the only two companies in the top-ten list to see their valuations erode. The market valuation of TCS declined by a substantial ₹88,172.8 crore, settling at ₹10,64,242.35 crore. Similarly, Infosys saw its market capitalisation fall by ₹63,462.66 crore to ₹6,26,067.95 crore. This downturn in IT stocks was attributed to weak trends in global technology firms, driven by concerns over high valuations and the rapid pace of advancements in artificial intelligence.

Weekly Market Cap Changes Summary

Updated Ranking of Top 10 Firms

Following the week's market movements, the ranking of India's most valued firms stood as follows:

1. Reliance Industries
2. HDFC Bank
3. Bharti Airtel
4. TCS
5. ICICI Bank
6. State Bank of India
7. Infosys
8. Bajaj Finance
9. LIC
10. Hindustan Unilever

Conclusion

The past week highlighted strong investor confidence in the Indian market, with most blue-chip companies posting significant gains. However, the divergence between the bullish broader market and the bearish IT sector underscores the presence of sector-specific challenges. While the overall market sentiment appears positive, investors will be closely watching global technology trends and their potential impact on domestic IT firms in the near future.