Top 6 firms add Rs 75,257 crore in market value

Six of India’s top-10 most-valued firms collectively added Rs 75,256.97 crore in market valuation last week despite subdued broader market conditions.

Technology giants Tata Consultancy Services and Infosys led the gains while financial stocks faced significant pressure during the period.

The benchmark Sensex declined 338.3 points (0.39%) during the week, reflecting cautious investor sentiment amid global macroeconomic uncertainties.

Tata Consultancy Services witnessed the highest valuation surge, gaining Rs 22,594.96 crore to reach Rs 11,87,673.41 crore.

Infosys followed closely with Rs 16,971.64 crore added to its market cap, ending the week at Rs 6,81,192.22 crore.

State Bank of India’s valuation rose by Rs 15,922.81 crore to Rs 9,04,738.98 crore, while Bharti Airtel added Rs 7,384.23 crore to reach Rs 11,95,332.34 crore.

Engineering conglomerate Larsen & Toubro recorded marginal gains of Rs 68.78 crore, finishing at Rs 5,60,439.16 crore.

In contrast, financial sector majors faced valuation erosion. HDFC Bank’s market cap plunged Rs 21,920.08 crore to Rs 15,16,638.63 crore.

Life Insurance Corporation of India saw a Rs 9,614 crore reduction in valuation, settling at Rs 5,39,206.05 crore.

ICICI Bank’s market capitalisation declined by Rs 8,427.61 crore to Rs 9,68,240.54 crore, while Bajaj Finance lost Rs 5,880.25 crore to close at Rs 6,27,226.44 crore.

HDFC Bank retained its position as the highest-valued firm in this grouping, followed by Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.

Market analysts observed that immediate resistance for Nifty lies at 26,000, with subsequent barriers at 26,200 and 26,400. Support levels are positioned at 25,900 and 25,800, with breaches below 25,700 potentially triggering intensified selling activity.

(With inputs from IANS)