Last week, the BSE benchmark Sensex jumped 1,284.61 points, or 1.73 per cent, and the NSE Nifty surged 256.2 points, or 1 per cent.
“Indian equity markets ended a volatile week on a strong note, snapping a two-week losing streak amid improving global sentiment and supportive measures from the Reserve Bank of India (RBI) aimed at attracting foreign currency inflows,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
Investor confidence improved on optimism surrounding a potential US-Iran peace deal, which raised hopes of easing geopolitical tensions and stabilising energy markets, he added.
From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro and Hindustan Unilever were the winners, while Tata Consultancy Services (TCS) and Life Insurance Corporation of India (LIC) faced erosion from their market capitalisation (mcap).
ICICI Bank added Rs 56,223 crore, taking its valuation to Rs 9,61,297.77 crore.HDFC Bank’s market valuation jumped Rs 38,571.11 crore to Rs 11,89,314.42 crore, and that of State Bank of India surged Rs 36,137.87 crore to Rs 9,38,661.50 crore.The valuation of Bajaj Finance rallied Rs 18,366.57 crore to Rs 5,71,947.54 crore and that of Bharti Airtel climbed Rs 14,380.14 crore to Rs 11,10,530.63 crore.
The market capitalisation of Larsen & Toubro edged higher by Rs 13,241.39 crore to Rs 5,57,197.83 crore, and that of Hindustan Unilever went up by Rs 10,984.34 crore to Rs 5,09,285.65 crore.
Reliance Industries’ valuation advanced by Rs 2,097.54 crore to Rs 17,49,418.94 crore.
However, the mcap of Tata Consultancy Services (TCS) eroded by Rs 13,296.47 crore to Rs 7,82,049.62 crore, and that of LIC declined by Rs 822.25 crore to Rs 5,05,051.07 crore.
Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC.
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