8 out of 10 most India's valuable companies add ₹4.13 lakh crore mcap amid US-Iran ceasefire; HDFC, ICICI Bank top list

The combined market valuation of eight of the top-10 most valued firms surged by ₹4,13,003.23 crore last week, with HDFC Bank and ICICI Bank emerging as the biggest gainers, in tandem with an optimistic trend in equities.

Last week, the BSE benchmark Sensex jumped 4,230.7 points or 5.77 per cent, and the NSE Nifty surged 1,337.5 points or 5.88 per cent.

"Sentiment remained buoyant amid optimism surrounding a temporary US–Iran ceasefire, although lingering geopolitical uncertainties capped the pace of gains as the week progressed," Ajit Mishra, SVP, Research, Religare Broking Ltd, said.

A sharp decline in crude oil prices below the USD 100 mark eased domestic concerns and triggered a strong rebound across markets, he added.

From the top-10 pack, HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro and Hindustan Unilever were the winners, while Reliance Industries and Infosys faced erosion from their valuation.

HDFC Bank added ₹91,282.67 crore, taking its market valuation to ₹12,47,478.57 crore.

The valuation of ICICI Bank jumped ₹76,036.36 crore to ₹9,46,741.85 crore, and that of Bajaj Finance surged by ₹60,980.35 crore to ₹5,75,206.47 crore.

The market capitalisation (mcap) of Larsen & Toubro zoomed by ₹47,624.97 crore to ₹5,44,736.59 crore, and that of Bharti Airtel climbed ₹45,873.43 crore to ₹10,66,293.69 crore.

State Bank of India's mcap soared ₹43,614.67 crore to ₹9,84,629.98 crore, and that of TCS edged higher by ₹26,303.49 crore to ₹9,13,331.92 crore.

The market valuation of Hindustan Unilever rallied ₹21,287.29 crore to ₹5,06,477.89 crore.

However, the mcap of Infosys declined by ₹3,285.03 crore to ₹5,24,124.40 crore.

The valuation of Reliance Industries diminished by ₹947.28 crore to ₹18,27,086.79 crore.

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