6 of top-10 firms gain ₹88,678 crore in market cap in holiday week
Synopsis
In a holiday-shortened week, India's financial heavyweights — led by ICICI Bank and HDFC Bank — drove a ₹88,678 crore surge in combined market cap across six of the top-10 firms. The divergence is telling: banking gained while telecom and IT lost ground, a split that reflects sector-specific pressures heading into the second half of the financial year.
Key Takeaways
Six of India's top-10 companies added a combined ₹88,678 crore in market capitalisation during the week ended 28 June .
ICICI Bank was the biggest gainer, adding ₹29,588.75 crore to reach a valuation of ₹9,95,610.74 crore .
HDFC Bank remains India's most-valued listed company at ₹12,25,981.44 crore .
Bharti Airtel posted the sharpest decline, losing ₹35,615.21 crore in market cap.
The Sensex gained 297.57 points (0.38%) and Nifty rose 42.9 points (0.17%) over the week.
Six of India's 10 most-valued companies added a combined ₹88,678 crore to their market capitalisation during the holiday-shortened week ended 28 June, even as four peers shed value. The gains came against a backdrop of modest benchmark gains, with the Sensex advancing 297.57 points (0.38%) and the Nifty rising 42.9 points (0.17%) over the week.
Top Gainers of the Week
ICICI Bank emerged as the biggest gainer among the top-10, adding ₹29,588.75 crore to close the week with a market valuation of ₹9,95,610.74 crore. HDFC Bank followed with a gain of ₹24,718.3 crore, lifting its market capitalisation to ₹12,25,981.44 crore — retaining its position as India's most-valued listed company.
Bajaj Finance added ₹11,580.28 crore, closing at a valuation of ₹6,10,081.53 crore. State Bank of India gained ₹9,322.93 crore to reach ₹9,64,738 crore, while Larsen & Toubro posted a marginal rise of ₹1,423.88 crore, taking its market cap to ₹5,80,550.83 crore.
Notable Decliners
Bharti Airtel registered the steepest fall among the top-10, shedding ₹35,615.21 crore to close at a market valuation of ₹11,27,348.09 crore. Life Insurance Corporation of India (LIC) lost ₹21,188.74 crore, bringing its market cap down to ₹5,35,537.56 crore.
Tata Consultancy Services (TCS) declined by ₹11,143.71 crore to ₹7,58,206.42 crore, while Hindustan Unilever shed ₹5,321.83 crore, closing at ₹5,10,624.92 crore.
Current Ranking of Most-Valued Firms
As of the week's close, HDFC Bank leads India's market-cap rankings, followed by Bharti Airtel, ICICI Bank, State Bank of India, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India, and Hindustan Unilever.
Market Context
The week was shortened due to a public holiday, limiting trading sessions. Despite that, the net positive movement across six of the ten most-valued firms signals resilient domestic institutional appetite, particularly in the banking and financial services space. Notably, the gains in financials — led by ICICI Bank and HDFC Bank — contrast with pressure on telecom and IT counters, reflecting sector-specific headwinds rather than a broad market retreat. With the first half of the financial year drawing to a close, fund rebalancing flows are likely to have played a role in the week's divergent moves.
Point of View
Telecom and IT down — is not noise; it reflects a structural divergence. Banking stocks are benefiting from expectations of rate easing and strong credit growth, while Bharti Airtel's sharp ₹35,615 crore drop suggests the market is reassessing its premium valuation amid competitive and capex pressures. TCS's decline, meanwhile, echoes the broader IT sector's exposure to sluggish global tech spending. The net ₹88,678 crore gain across six firms in a truncated week is a headline that flatters; strip out ICICI Bank and HDFC Bank, and the picture is far less buoyant.
NationPress
28 Jun 2026
Frequently Asked Questions
Which company gained the most in market cap during the week ended 28 June?
ICICI Bank was the top gainer, adding ₹29,588.75 crore to its market valuation, which rose to ₹9,95,610.74 crore by the end of the week.
Which company lost the most market cap during the week?
Bharti Airtel registered the steepest decline, shedding ₹35,615.21 crore to close at a market valuation of ₹11,27,348.09 crore.
Which is India's most-valued company as of 28 June?
HDFC Bank retained the top position with a market capitalisation of ₹12,25,981.44 crore, followed by Bharti Airtel and ICICI Bank.
How did the broader market perform during the week?
The Sensex gained 297.57 points (0.38%) and the Nifty rose 42.9 points (0.17%) over the holiday-shortened week, reflecting a modest but positive close.
Which top-10 firms saw a decline in market cap during the week?
Bharti Airtel, Tata Consultancy Services, Life Insurance Corporation of India, and Hindustan Unilever all recorded declines in market capitalisation during the week ended 28 June.
