Six of the Leading Ten Companies Add Rs 1.18 Lakh Crore in Market Value; HDFC Bank Tops the List
Click to start listening
Synopsis
In the past week, six out of the top ten most valuable firms saw a combined increase of Rs 1.18 lakh crore in market value, driven by strong investor sentiment particularly in banking and telecom sectors. HDFC Bank and Bharti Airtel were the top gainers, with significant contributions to their market capitalizations.
Key Takeaways
- Six top firms gained Rs 1.18 lakh crore.
- HDFC Bank led with a gain of Rs 32,639.98 crore.
- Bharti Airtel added Rs 31,003.44 crore.
- Market supported by positive sentiment and economic indicators.
- Upcoming week crucial for market dynamics.
Mumbai, Feb 9 (NationPress) The collective market valuation of six of the top ten most valuable companies experienced a notable increase of Rs 1,18,151.75 crore last week, predominantly fueled by a positive investor outlook and consistent buying activity in the banking and telecom sectors.
HDFC Bank and Bharti Airtel were the primary beneficiaries, leveraging their robust business performance and promising growth outlook.
During the last trading week, the Sensex rose by 354.23 points, or 0.45 percent, while the Nifty increased by 77.8 points, or 0.33 percent.
The overall optimistic trend in the market was bolstered by favorable domestic economic indicators and global influences, allowing key firms to sustain their upward trajectory.
HDFC Bank recorded a rise in market capitalisation of Rs 32,639.98 crore, reaching Rs 13,25,090.58 crore.
Bharti Airtel also showcased significant growth, adding Rs 31,003.44 crore to achieve a total valuation of Rs 9,56,205.34 crore.
Bajaj Finance saw its market value soar by Rs 29,032.08 crore, reaching Rs 5,24,312.82 crore, while Infosys increased its valuation by Rs 21,114.32 crore, bringing its total to Rs 7,90,074.08 crore.
ICICI Bank also experienced a slight increase in market capitalisation by Rs 1,384.81 crore, reaching Rs 8,87,632.56 crore.
Conversely, four companies within the top ten saw their valuations decline.
ITC recorded the most significant loss, shedding Rs 39,474.45 crore during the week, with its total valuation decreasing to Rs 5,39,129.60 crore.
Hindustan Unilever faced a substantial decline, losing Rs 33,704.89 crore to a valuation of Rs 5,55,361.14 crore.
Tata Consultancy Services (TCS) also saw a reduction, with its market capitalisation dropping by Rs 16,064.31 crore to Rs 14,57,854.09 crore.
SBI's market value fell by Rs 25,926.02 crore, bringing its total down to Rs 6,57,789.12 crore.
The forthcoming week is anticipated to be dynamic for both global and Indian markets, influenced by key macroeconomic data releases and corporate earnings.
Experts indicate that market sentiment will be influenced by inflation data, industrial output statistics, and significant earnings reports.
"The Nifty index decisively closed above its 21-day EMA and a three-week consolidation range, indicating a shift from a negative to a positive trend," stated Master Trust Group Director Puneet Singhania.
He added that as long as Bank Nifty stays above 49,700, it is likely to trend towards 50,700, while a drop below this level could result in a decline to 49,200.
