Market rally lifts top companies as eight of top 10 add Rs 4.55 lakh crore in value, Reliance leads to gains – The Times of India

The combined market valuation of eight of the country’s top 10 most valued companies rose by Rs 4.55 lakh crore last week, tracking a strong rally in equities with Reliance Industries emerging as the biggest gainer.According to PTI, the benchmark BSE rose 2,857.46 points or 3.53 percent during the week.Among the top 10, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC) and Hindustan Unilever posted gains, while Tata Consultancy Services (TCS) and Infosys saw erosion in their valuations.The combined market valuation gain of the eight companies stood at Rs 4,55,336.36 crore.Reliance Industries added Rs 1,41,887.97 crore, taking its market capitalization to Rs 19,63,358.79 crore.LIC’s valuation increased by Rs 64,926.1 crore to Rs 5,70,198.54 crore. Bharti Airtel’s market valuation rose by Rs 52,516.39 crore to Rs 11,62,288.64 crore, while ICICI Bank’s valuation rose by Rs 52,476.97 crore to Rs 10,06,258.82 crore.Bajaj Finance added Rs 48,659.83 crore to Rs 6,10,830.20 crore. State Bank of India’s valuation rose Rs 45,460.79 crore to Rs 9,84,353.06 crore.HDFC Bank’s valuation rose Rs 32,350.28 crore to Rs 14,48,249.63 crore, while Hindustan Unilever added Rs 17,058.03 crore to Rs 5,69,482.18 crore.However, TCS saw its market value decline by Rs 88,172.8 crore to Rs 10,64,242.35 crore. Infosys’ market capitalization fell by Rs 63,462.66 crore to Rs 6,26,067.95 crore.IT stocks witnessed selling pressure last week, in line with weak global trends in technology stocks, amid valuation concerns and concerns over the rapid pace of advances in artificial intelligence.Reliance Industries remained the most valued company, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, LIC and Hindustan Unilever.