Top-10 Firms Add Mixed Wealth, HDFC Bank and Bharti Airtel Lead ₹92,995 Crore Market Cap Gains Despite Weak Week
· Free Press Journal
New Delhi: Four of India's 10 most valuable listed companies together added Rs 92,995.48 crore in market capitalisation (mcap) during the last trading week, even as the benchmark stock indices ended in the red.
HDFC Bank and Bharti Airtel emerged as the biggest gainers, while six other heavyweight companies, including ICICI Bank, Tata Consultancy Services (TCS) and Larsen & Toubro, saw their market values decline.
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Markets end lower after four-week rally
The broader market had a weak week, with the BSE Sensex falling 194.52 points, or 0.25 per cent, while the NSE Nifty slipped 63.95 points, or 0.26 per cent.
Top-10 Firms Add ₹88,678 Crore In Market Value, ICICI Bank Leads Gains with ₹29,589 Crore Jump Despite Losses In Four CompaniesAccording to Ajit Mishra, SVP, Research at Religare Broking, markets started the week on a positive note, supported by easing crude oil prices, healthy first-quarter business updates, good monsoon progress and buying across sectors.
However, investor sentiment turned cautious after renewed Iran-US tensions pushed up crude oil prices. Markets later recovered part of their losses during the final two trading sessions.
HDFC Bank tops the gainers
Among the top-10 companies, HDFC Bank recorded the biggest increase in market value. Its market capitalisation rose by Rs 35,808.09 crore to Rs 12.69 lakh crore.
Top-10 Firms Add Over ₹1 Lakh Crore In Market Value, Airtel & Bajaj Finance Lead Weekly Gains With ₹69,500 Crore JumpBharti Airtel followed closely, adding Rs 34,896.92 crore to take its valuation to Rs 11.99 lakh crore.
Life Insurance Corporation of India (LIC) gained Rs 16,065.5 crore, while Reliance Industries added Rs 6,224.97 crore to remain India's most valuable listed company with a market capitalisation of Rs 17.71 lakh crore.
Six companies lose market value
On the losing side, Hindustan Unilever posted the biggest decline, with its valuation falling Rs 12,088.65 crore.
Top-10 Firms Lose ₹1.25 Lakh Crore In Market Value, Reliance Alone Sees ₹39,718 Crore Erosion During Weak WeekLarsen & Toubro lost Rs 11,040.23 crore, followed by TCS, which shed Rs 8,574.87 crore. Bajaj Finance, ICICI Bank and State Bank of India also reported declines in their market capitalisation.
Despite the mixed performance, the ranking of the country's 10 most valuable companies remained unchanged. Reliance Industries retained the top position, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever.