Market weekly update: Mcap of 7 of top-10 most-valued firms jumps ₹1 lakh crore; Bajaj Finance, Reliance major gainers

The combined market valuation of seven of the top 10 most valued firms jumped ₹1,06,250.95 crore last week, with Bajaj Finance and Reliance Industries emerging as the biggest gainers, in line with an optimistic trend in equities.

Last week, the BSE benchmark jumped 901.11 points, or 1.12%, and the Nifty climbed 314.15 points, or 1.28%.

From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance and LIC were the winners, while TCS, Infosys and Hindustan Unilever faced erosion from their market valuation last week.

The valuation of Bajaj Finance surged ₹37,960.96 crore to ₹5,83,451.27 crore. Reliance Industries added ₹23,343.51 crore to ₹18,59,767.71 crore.

The market capitalisation (mcap) of HDFC Bank jumped ₹17,580.42 crore to ₹1,478,444.32 crore, and that of Life Insurance Corporation of India (LIC) climbed ₹15,559.49 crore to ₹554,607.42 crore.

State Bank of India's mcap rallied by ₹4,246.09 crore to ₹7,44,864.69 crore, and that of Bharti Airtel edged higher by ₹4,134.02 crore to ₹10,81,347.25 crore.

ICICI Bank's valuation went up by ₹3,426.46 crore to ₹10,01,717.42 crore.

However, the market valuation of Tata Consultancy Services (TCS) tanked by ₹13,007.02 crore to ₹11,02,955.89 crore.

The mcap of Infosys eroded by ₹10,427.47 crore to ₹6,00,036.47 crore, and that of Hindustan Unilever declined by ₹6,296.91 crore to ₹6,18,694.37 crore.

Reliance Industries remained the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Hindustan Unilever, Infosys, Bajaj Finance and LIC.

On the Nifty50 index, Mahindra & Mahindra emerged as the top gainer of the week, surging 11.3%. Tata Steel (8.5%), Eicher Motors (7.8%), Bajaj Finance (6.8%), and Hindalco Industries (5.7%) also added strong momentum to the index.

On the flip side, HCL Technologies (-2.5%), Wipro (-2.3%), Cipla (-2.3%), Infosys (-1.7%), and HDFC Life Insurance (-1.6%) ended as the week’s biggest losers.

On the sectoral front, Nifty Metal (5.8%) led the gains, followed by Nifty Auto (5.4%) and Nifty Consumer Durables (3.2%). Nifty IT, dragged by HCL Tech, Wipro, and Infosys, was the top laggard, slipping 1.6%.

Metal stocks rallied after a Reuters report suggested China may cut steel production between 2025 and 2026 to address overcapacity, a move that could reduce cheap steel imports into India.

Meanwhile, auto and consumer durables indices gained on the back of revised GST rates.