Top-10 firms add ₹1.90 lakh crore; ICICI leads

What changed in the top-10 most valued list

Eight of India’s 10 most valuable companies added a combined ₹190,000 crore in market capitalisation over the past week, tracking a broader rally in domestic equities. The gains were led by ICICI Bank, which posted the biggest jump in valuation among the top-10 pack.

The week was described as volatile, but Indian equities ended on a strong note. Improving global sentiment, measures from the Reserve Bank of India (RBI), and optimism linked to a potential US-Iran peace deal were cited as supporting factors behind the rise in investor confidence.

The move mattered because market-cap changes among the largest companies often reflect where institutional money is flowing, particularly in index-heavy counters like large banks and heavyweight industrial names.

Market mood: Sensex and Nifty ended higher

The rally in top-company valuations came alongside gains in the benchmark indices. During the week, the BSE Sensex rose 1,284.61 points, or 1.73%, while the NSE Nifty added 256.2 points, or 1%.

A rise of this scale in the benchmarks typically amplifies market-cap expansion for index constituents, especially for companies with large free-float and high index weights. The week’s finish was particularly important because it came after volatility, suggesting that buyers returned into the close.

ICICI Bank was the biggest gainer

ICICI Bank led the weekly market-cap additions among the top-10 most valued companies. Its market capitalisation rose by ₹56,223 crore to ₹961,000 crore.

The bank’s outsized jump stood out even within a week when several large caps gained value together. It also underscored how financials can dominate weekly market-cap swings when sentiment improves and liquidity is supportive.

Separately, a stock price snapshot in the provided data noted that as of 29 May 2026 (03:59 PM IST), ICICI Bank shares were down 1.29% at ₹1,256.40 versus a previous close of ₹1,279.1.

HDFC Bank and SBI added significant value

HDFC Bank remained the second-most valuable company in India and added ₹38,571 crore in market capitalisation over the week. This took its valuation to ₹1,189,000 crore.

State Bank of India (SBI) also posted a sizeable gain. SBI’s market value increased by ₹36,138 crore to ₹939,000 crore.

With ICICI Bank, HDFC Bank and SBI together accounting for a large part of the week’s incremental value, the data points to banking names being key drivers of the broader top-10 market-cap expansion.

Winners and losers among the top-10

Among the top-10 valued firms, the following companies were reported as gaining in market value: Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro, and Hindustan Unilever.

Two companies were reported to have seen declines in market value during the week: Tata Consultancy Services (TCS) and Life Insurance Corporation of India (LIC).

No absolute market-cap change figures were provided for the remaining companies in the top-10 beyond ICICI Bank, HDFC Bank and SBI.

Current ranking of India’s most valued companies

Reliance Industries retained its position as India’s most valuable company. The ranking that followed in the provided data placed HDFC Bank second, then Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.

Changes within this list are closely tracked by market participants because the top-10 set includes several index bellwethers across banking, telecom, IT, industrials and consumer staples.

Key figures at a glance

Market impact: why banks and global cues mattered

The week’s gains were attributed to a combination of improving global sentiment and RBI measures, alongside optimism around a potential US-Iran peace deal. These factors coincided with a sharp improvement in market tone by the end of the week.

In that setup, banking heavyweights delivered the most visible market-cap additions, led by ICICI Bank. HDFC Bank and SBI also contributed meaningfully to the overall increase reported for eight of the top-10 firms.

At the same time, the declines in TCS and LIC indicate that the rally was not uniform across all sectors within the top-10 basket. This divergence is common in volatile weeks, when investors rotate between defensives, cyclicals and rate-sensitive segments.

What to watch next

With Reliance Industries continuing at the top of the valuation table and large banks driving the latest week’s incremental market cap, investors will keep tracking whether the supportive cues cited in the week persist. The next data points that typically shape sentiment include how global risk appetite evolves and any further policy or liquidity signals linked to RBI actions.

For now, the reported outcome is clear: eight of the top-10 most valued Indian companies added ₹190,000 crore in market value over the week, with ICICI Bank leading the gains.