Daijiworld Media Network - New Delhi

New Delhi, Apr 12: Indian equity markets witnessed a strong upswing last week, with eight of the top ten most valued companies collectively adding over Rs 4.13 lakh crore in market capitalisation, driven largely by gains in banking and financial stocks.

The rally was reflected in benchmark indices, as the BSE Sensex jumped 4,230.7 points (5.77%), while the Nifty 50 rose 1,337.5 points (5.88%) during the week.

Leading the surge were banking giants HDFC Bank and ICICI Bank. HDFC Bank recorded the biggest gain, adding Rs 91,282.67 crore to reach a valuation of Rs 12.47 lakh crore. ICICI Bank followed with an increase of ?76,036.36 crore, pushing its market cap to Rs 9.46 lakh crore.

Among other major gainers, Bajaj Finance saw its valuation rise by Rs 60,980.35 crore, while Larsen & Toubro added Rs 47,624.97 crore. Telecom leader Bharti Airtel also posted strong gains, with its market cap increasing by Rs 45,873.43 crore.

Public sector giant State Bank of India registered a rise of Rs 43,614.67 crore, while IT major Tata Consultancy Services added Rs 26,303.49 crore. FMCG heavyweight Hindustan Unilever also saw its valuation climb by Rs 21,287.29 crore.

However, the rally was not uniform across all sectors. IT firm Infosys recorded a decline of Rs 3,285.03 crore in market value, while Reliance Industries experienced a marginal dip of Rs 947.28 crore. Despite this, Reliance Industries retained its position as India’s most valued company.

According to Ajit Mishra of Religare Broking Limited, positive market sentiment was supported by optimism surrounding a temporary US-Iran ceasefire and a sharp decline in crude oil prices below $100 per barrel. However, lingering geopolitical uncertainties moderated gains toward the end of the week.

Overall, the strong rally underscores renewed investor confidence and broad-based buying across key sectors of the Indian economy.