Which 5 Top Companies Boosted Their Market Value by Over Rs 72,000 Crore Last Week?
Synopsis
Key Takeaways
- Five companies added over Rs 72,000 crore in market valuation.
- TCS led the gainers with a rise of Rs 35,909.52 crore.
- Infosys followed closely with Rs 23,404.55 crore increase.
- Reliance Industries faced the largest drop, losing Rs 35,116.76 crore.
- The Nifty's technical outlook suggests potential volatility ahead.
Mumbai, Dec 7 (NationPress) The total market value of five of India's ten most valuable firms rose by Rs 72,284.74 crore last week, despite a largely stable overall market.
Tata Consultancy Services (TCS) and Infosys stood out as the leading gainers during the week.
Bharti Airtel, TCS, ICICI Bank, Infosys, and Bajaj Finance all experienced increases in their market capitalisation, while Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) faced declines in their valuations.
The overall market movement remained subdued throughout the week. TCS contributed the most significant value increase, climbing by Rs 35,909.52 crore, bringing its total market capitalisation to Rs 11,71,862.37 crore.
Infosys also experienced a substantial boost, gaining Rs 23,404.55 crore and raising its valuation to Rs 6,71,366.53 crore.
Among other notable gainers, Bajaj Finance added Rs 6,720.28 crore, elevating its market value to Rs 6,52,396.39 crore.
Bharti Airtel’s valuation grew by Rs 3,791.9 crore, reaching Rs 12,01,832.74 crore. ICICI Bank also saw a modest increase of Rs 2,458.49 crore, raising its market capitalisation to Rs 9,95,184.46 crore.
On the downside, Reliance Industries suffered the most significant loss, with its valuation decreasing by Rs 35,116.76 crore to Rs 20,85,218.71 crore.
LIC experienced a decline of Rs 15,559.49 crore, bringing its market capitalisation to Rs 5,50,021.80 crore. The valuation of the State Bank of India fell by Rs 7,522.96 crore, resulting in Rs 8,96,662.19 crore, while HDFC Bank decreased by Rs 5,724.03 crore to reach Rs 15,43,019.64 crore.
Larsen & Toubro also recorded a drop of Rs 4,185.39 crore, concluding the week with a valuation of Rs 5,55,459.56 crore.
Despite the market fluctuations, HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro, and LIC continue to hold positions as some of the most valued companies in the country.
Meanwhile, regarding the Nifty's technical outlook, experts noted, "On the upside, immediate resistance is positioned at 26,300, followed by 26,400 and 26,500. On the downside, support is observed at 26,100, and then at 26,000, with a break below 25,850 likely to incite additional selling pressure."