The combined market value of seven out of the ten most highly valued Indian companies rose by INR 96,200.95 crore last week, helped by an overall positive mood in the equity markets.
Share
MUMBAI — The combined market value of seven out of the ten most highly valued Indian companies rose by INR 96,200.95 crore last week, helped by an overall positive mood in the equity markets.
The broader indices also supported the gains, with the BSE Sensex climbing 474.75 points, or 0.55 per cent, during the week and touching a new all-time high of 86,055.86 on Thursday.
Among the top gainers, Bajaj Finance added INR 20,347.52 crore to its valuation, taking its market capitalisation to INR 6,45,676.11 crore.
HDFC Bank reported an increase of INR 13,611.11 crore, pushing its valuation to INR 15,48,743.67 crore.
ICICI Bank also saw a strong rise of INR 13,599.62 crore, lifting its market worth to INR 9,92,725.97 crore.
Hindustan Unilever added INR 7,671.41 crore during the week, taking its valuation to INR 5,79,644.16 crore.
State Bank of India posted gains of INR 6,415.28 crore to reach INR 9,04,185.15 crore, while Infosys added INR 6,273.15 crore, with its valuation now at INR 6,47,961.98 crore.
On the losing side, Bharti Airtel recorded the sharpest decline, slipping by INR 35,239.01 crore in market value.
LIC’s valuation dropped by INR 4,996.75 crore, and TCS saw an erosion of INR 3,762.81 crore during the week.
In the list of the ten most valued companies, HDFC Bank remained in second place overall, followed by Bharti Airtel, TCS, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and LIC.
Meanwhile, the Nifty index displayed strong bullish momentum this week, rising 134 points to register a new all-time high of 26,310.
“On the weekly chart, the index has successfully retested its cup-and-handle pattern and extended its upward move,” experts said.
Additionally, Nifty has formed a bullish hammer near its lifetime high, suggesting sustained buying interest and the potential for further upside.
“On the daily timeframe, Nifty posted a decisive close above the crucial 26,200 resistance level, ending the session at 26,202 and demonstrating strong follow-through strength,” market watchers mentioned.