The combined market valuation of eight of the country’s top 10 most valued firms surged by Rs 4.55 lakh crore last week, tracking a strong rally in equities, with Reliance Industries emerging as the biggest gainer.The BSE benchmark surged 2,857.46 points, or 3.53 per cent, during the week, according to PTI.From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC) and Hindustan Unilever posted gains, while Tata Consultancy Services (TCS) and Infosys saw erosion in their valuations.The combined market valuation gain of the eight firms stood at Rs 4,55,336.36 crore.Reliance Industries added Rs 1,41,887.97 crore, taking its market capitalisation to Rs 19,63,358.79 crore.LIC’s valuation jumped Rs 64,926.1 crore to Rs 5,70,198.54 crore. Bharti Airtel’s market valuation surged Rs 52,516.39 crore to Rs 11,62,288.64 crore, while ICICI Bank’s valuation rose Rs 52,476.97 crore to Rs 10,06,258.82 crore.Bajaj Finance added Rs 48,659.83 crore to Rs 6,10,830.20 crore. State Bank of India’s valuation rose Rs 45,460.79 crore to Rs 9,84,353.06 crore.HDFC Bank’s valuation increased Rs 32,350.28 crore to Rs 14,48,249.63 crore, while Hindustan Unilever added Rs 17,058.03 crore to Rs 5,69,482.18 crore.However, TCS saw its market valuation decline by Rs 88,172.8 crore to Rs 10,64,242.35 crore. Infosys’ market capitalisation fell by Rs 63,462.66 crore to Rs 6,26,067.95 crore.IT stocks witnessed selling pressure last week in line with weak global trends in technology stocks amid valuation concerns and worries over the rapid pace of artificial intelligence advancements.Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, LIC and Hindustan Unilever.
