The Indian stock markets witnessed a notable surge last week, with the top-10 most-valued firms collectively adding Rs 2.51 lakh crore in market value. This upward movement marked a strong rebound, ending a period of stagnation. Among these, Bajaj Finance emerged as the standout performer, recording the highest gain in valuation. The BSE Sensex advanced by 2,034.87 points, or 2.67%, while the NSE Nifty rose by 616.15 points, or 2.59%. Analysts attributed this rally to factors such as easing crude oil prices, improved geopolitical sentiment, robust Q1 FY27 earnings reports, and increased activity from foreign institutional investors. Nine of the ten leading companies concluded the week with elevated valuations. These included major entities like Reliance Industries, Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, and Life Insurance Corporation of India (LIC). Hindustan Unilever was the sole exception, experiencing a decline in its market capitalisation. Bajaj Finance’s valuation surged by Rs 80,345.97 crore to reach Rs 7,10,817.51 crore, driven by a more than 8% increase in share price following its June-quarter earnings report, which showed a 28% year-on-year rise in consolidated profit after tax (PAT). Reliance Industries saw its market capitalisation climb by Rs 39,447.35 crore to Rs 17,69,108.79 crore, maintaining its position as the most valuable company in the country. Bharti Airtel added Rs 44,959.5 crore, bringing its valuation to Rs 12,30,005.63 crore. Tata Consultancy Services (TCS) recorded a gain of Rs 40,414.03 crore, reaching Rs 8,55,894.78 crore. Larsen & Toubro’s market cap increased by Rs 21,096.8 crore to Rs 5,41,844.69 crore. State Bank of India’s valuation rose by Rs 10,845.97 crore to Rs 9,47,799.81 crore. HDFC Bank’s market capitalisation grew by Rs 8,164.73 crore to Rs 11,52,150.63 crore. Life Insurance Corporation of India (LIC) gained Rs 4,427.49 crore, ending at Rs 5,37,435.05 crore. ICICI Bank added Rs 1,660.37 crore, concluding the week at Rs 10,29,878.30 crore. Hindustan Unilever was the only firm among the top-10 to see a decrease in valuation, with its market capitalisation falling by Rs 10,326.46 crore to Rs 4,93,602.13 crore. Despite this, the overall trend reflected confidence in the market, supported by positive economic indicators and corporate performance. The rally also coincided with renewed interest from foreign institutional investors, who have been increasingly active in the Indian equity markets in recent months. Analysts noted that the improvement in crude oil prices played a role in boosting investor sentiment. Additionally, the release of quarterly earnings reports by several large corporations contributed to the optimism. For instance, Bajaj Finance’s impressive financial results were a key catalyst for its sharp rise. Other companies such as TCS and Larsen & Toubro also benefited from strong earnings and strategic initiatives. Meanwhile, the continued dominance of Reliance Industries and Bharti Airtel underscored their resilience and growth potential in the current economic environment. Looking ahead, market participants will be watching closely for further developments in both domestic and global economic conditions. The upcoming earnings reports from other major firms could influence future market trends. Investors remain cautiously optimistic, with many expecting sustained momentum in the coming weeks. As the market continues to evolve, the performance of these leading stocks will likely serve as a barometer for broader market health.
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