Seven of India's top 10 most-valued companies collectively added Rs. 96,201 crore to their market capitalisation over the past week, riding a sustained rally in the broader equity market. The BSE Sensex rose by over 470 points during the week and even scaled a fresh all-time high, reflecting revived investor confidence in large-cap stocks.
Reliance Industries led the pack of top gainers, with a cumulative valuation addition of over Rs. 28,000 crore, as investors continued to take a positive view of the conglomerate's diversified earnings.
It was followed by Bajaj Finance, which saw a gain of over Rs. 20,000 crore in market capitalisation, driven by strong credit growth and sustained demand for non-banking finance.
HDFC Bank and ICICI Bank saw substantial gains in valuation, with their respective additions exceeding Rs. 13,000 crore each. The market sentiment remained upbeat on the banking sector amid improving asset quality and steady credit expansion.
Hindustan Unilever, Infosys and State Bank of India contributed to the weekly gain, indicating broad-based support for consumer goods, IT services, and public-sector banking counters.
During this period, the market valuation of three major companies declined. Bharti Airtel was the biggest loser, with its market capitalization tumbling by over Rs. 35,000 crore amid mixed investor sentiment over tariff reforms and near-term growth visibility.
The other losers were TCS and LIC as sector-specific pressures dragged down their valuations against the broader market uptick in IT services and insurance.
The strong valuations among the blue chips reflect a sharp improvement in investor optimism on the back of stable macroeconomic indicators and resilient corporate earnings. However, the divergent performance of sectors underscores that it is a selective rally rather than an across-the-board one.
The market will also be watchful of every global economic cue, interest-rate expectations and corporate announcements for the sustainability of the current upside in the near term.