5 top companies add over Rs 72,000 crore in market value last week
Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance recorded gains in their market capitalisation, while Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) saw a decline in their valuations.
Mumbai: The combined market valuation of five of India’s 10 most valuable companies increased by Rs 72,284.74 crore last week, even as the overall market remained largely flat.
Tata Consultancy Services (TCS) and Infosys emerged as the biggest gainers during the week.
Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance recorded gains in their market capitalisation, while Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) saw a decline in their valuations.
The broader market movement remained muted over the week. TCS added the highest value, rising by Rs 35,909.52 crore to take its total market capitalisation to Rs 11,71,862.37 crore.
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Infosys also saw a strong jump, gaining Rs 23,404.55 crore and lifting its valuation to Rs 6,71,366.53 crore.
Among other gainers, Bajaj Finance added Rs 6,720.28 crore, pushing its market value to Rs 6,52,396.39 crore.
Bharti Airtel’s valuation increased by Rs 3,791.9 crore to reach Rs 12,01,832.74 crore. ICICI Bank saw a smaller rise of Rs 2,458.49 crore, taking its market capitalisation to Rs 9,95,184.46 crore.
On the losing side, Reliance Industries witnessed the sharpest fall, with its valuation dropping by Rs 35,116.76 crore to Rs 20,85,218.71 crore.
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LIC lost Rs 15,559.49 crore, taking its mcap to Rs 5,50,021.80 crore. State Bank of India’s valuation fell by Rs 7,522.96 crore to Rs 8,96,662.19 crore, while HDFC Bank slipped Rs 5,724.03 crore to Rs 15,43,019.64 crore.
Larsen & Toubro also saw a decline of Rs 4,185.39 crore, ending the week with a valuation of Rs 5,55,459.56 crore.
Despite the weekly fluctuations, HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC remained among the most valued company in the country.
Meanwhile, commenting on the Nifty’s technical outlook, experts said, “on the upside, immediate resistance is placed at 26,300, followed by 26,400 and 26,500. On the downside, support is seen at 26,100, and then at 26,000, with a break below 25,850 likely to attract additional selling pressure.”
