New Delhi, February 8 The combined market valuation of eight of the top 10 most valuable companies jumped by a staggering Rs 4.55 lakh crore last week, with Reliance Industries emerging as the biggest winner, in line with a remarkable rally in equities.
Last week, the BSE benchmark surged by 2,857.46 points or 3.53 per cent.
From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC), and Hindustan Unilever were the gainers, while Tata Consultancy Services (TCS) and Infosys saw their valuations decline.
The combined market valuation of the eight companies was Rs 4,55,336.36 crore.
Reliance Industries added Rs 1,41,887.97 crore, taking its market valuation to Rs 19,63,358.79 crore.
LIC's valuation zoomed Rs 64,926.1 crore to Rs 5,70,198.54 crore. The market valuation of Bharti Airtel surged Rs 52,516.39 crore to Rs 11,62,288.64 crore and that of ICICI Bank jumped Rs 52,476.97 crore to Rs 10,06,258.82 crore.
The market capitalization (mcap) of Bajaj Finance climbed Rs 48,659.83 crore to Rs 6,10,830.20 crore and that of State Bank of India by Rs 45,460.79 crore to Rs 9,84,353.06 crore.
HDFC Bank's valuation advanced by Rs 32,350.28 crore to Rs 14,48,249.63 crore and that of Hindustan Unilever appreciated by Rs 17,058.03 crore to Rs 5,69,482.18 crore.
However, the market valuation of TCS declined by Rs 88,172.8 crore to Rs 10,64,242.35 crore.
The mcap of Infosys declined by Rs 63,462.66 crore to Rs 6,26,067.95 crore.
IT stocks faced selling last week, in line with weak trends in tech firms globally, amid concerns related to valuations and the rapid pace of advancements in artificial intelligence.
Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, LIC, and Hindustan Unilever.