LIC Leads Market Surge as Four of India’s Top-10 Firms Gain ₹1 Lakh Crore in Valuation

Image Source: Mint

The combined market valuation of four of India’s top-10 most valued firms surged by ₹1,01,369.5 crore last week, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer. Despite a sluggish trend in equities, LIC, HDFC Bank, Bharti Airtel, and State Bank of India (SBI) saw significant gains, while Reliance Industries, TCS, ICICI Bank, Infosys, Bajaj Finance, and Hindustan Unilever faced valuation declines.

1. LIC's Market Rise

LIC's market value rose ₹59,233.61 crore to ₹6,03,120.16 crore, the largest increase in the top-10 companies.
The rise is during robust investor sentiments and upbeat financial performance.

2. Gains in Banking, Telecom Sectors

State Bank of India (SBI) increased by ₹19,589.54 crore to ₹7,25,036.13 crore.
Bharti Airtel rose by ₹14,084.2 crore to ₹10,58,766.92 crore.
HDFC Bank increased ₹8,462.15 crore, totaling ₹14,89,185.62 crore in valuation.

3. Falls of Tech and FMCG Giants

Tata Consultancy Services (TCS) declined ₹17,909.53 crore, to a valuation of ₹12,53,486.42 crore.
Reliance Industries declined ₹7,645.85 crore, to a valuation of ₹19,22,693.71 crore.
Bajaj Finance, ICICI Bank, Hindustan Unilever, and Infosys also experienced valuation declines.

4. Future Projections and Market Trends

Experts anticipate ongoing volatility, with banking and telecom shares likely to shine.
Investors are monitoring international economic trends and policy shifts that are likely to affect valuations.

Sources: The Hindu Business Line, MSN