8 of top 10 most valued firms add Rs 1.72 lakh crore in market cap
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Eight of India’s top-10 most valuable companies saw their combined market valuation soar by a whopping Rs 1.72 lakh crore last week, buoyed by robust performance in domestic equity markets.
This surge aligned with the BSE Sensex climbing 709.19 points (0.87%) during the trading week.
Notable gainers included Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, Infosys, Hindustan Unilever Limited, Life Insurance Corporation of India (LIC), and Bajaj Finance, all recording significant valuation jumps.
Hindustan Unilever led the pack with a Rs 34,280.54 crore increase, elevating its market cap to Rs 6,17,672.30 crore. Bharti Airtel followed closely, adding Rs 33,899.02 crore to reach Rs 11,02,159.94 crore.
Other significant movements included Bajaj Finance rising Rs 20,413.95 crore to Rs 5,55,961.39 crore and Infosys gaining Rs 16,693.93 crore to hit Rs 6,18,004.12 crore. TCS advanced by Rs 11,487.42 crore to Rs 11,04,837.29 crore while ICICI Bank added Rs 6,443.84 crore to reach Rs 10,25,426.19 crore.
Contrasting this trend, HDFC Bank’s valuation dipped by Rs 20,040.7 crore to Rs 15,08,346.39 crore, while State Bank of India shed Rs 9,784.46 crore to settle at Rs 7,53,310.70 crore.
Market rankings remained steady with Reliance Industries holding the top position, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Hindustan Unilever, LIC, and Bajaj Finance.
Technical analysts observed Nifty hovering near critical support at 24,840, aligning with its 50-day EMA. Market experts cautioned that sustained weakness below this threshold could trigger declines toward 24,650 and potentially 24,500.
“A decisive move above the 25,150-25,350 resistance band would signal bullish momentum renewal,” noted technical analysts at Axis Securities.
(With inputs from IANS)
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