Which 7 Indian Firms Added Rs 96,200 Crore in Market Value?
Synopsis
Key Takeaways
- Seven top Indian firms added Rs 96,200.95 crore in market value.
- Bajaj Finance led the gains with an addition of Rs 20,347.52 crore.
- HDFC Bank and ICICI Bank also saw significant increases.
- Bharti Airtel faced the largest decline, dropping Rs 35,239.01 crore.
- The Nifty index achieved a new all-time high of 26,310.
Mumbai, Nov 30 (NationPress) The total market capitalization of seven of the top ten most valued Indian corporations surged by Rs 96,200.95 crore last week, buoyed by a generally optimistic sentiment in the stock markets.
The broader indices contributed to these gains, with the BSE Sensex climbing by 474.75 points, or 0.55 percent, throughout the week, achieving a new all-time high of 86,055.86 on Thursday.
Among the leading gainers, Bajaj Finance increased its valuation by Rs 20,347.52 crore, bringing its market capitalization to Rs 6,45,676.11 crore.
HDFC Bank saw an uptick of Rs 13,611.11 crore, elevating its valuation to Rs 15,48,743.67 crore.
ICICI Bank witnessed a notable rise of Rs 13,599.62 crore, enhancing its market worth to Rs 9,92,725.97 crore.
Hindustan Unilever contributed Rs 7,671.41 crore to its valuation, now standing at Rs 5,79,644.16 crore.
The State Bank of India recorded gains of Rs 6,415.28 crore, reaching Rs 9,04,185.15 crore, while Infosys raised its valuation by Rs 6,273.15 crore, now at Rs 6,47,961.98 crore.
On the downside, Bharti Airtel experienced the steepest decline, dropping by Rs 35,239.01 crore in market value.
LIC’s valuation fell by Rs 4,996.75 crore, and TCS faced a decrease of Rs 3,762.81 crore during the week.
In the ranking of the ten most valued companies, HDFC Bank maintained its second position overall, followed by Bharti Airtel, TCS, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and LIC.
Meanwhile, the Nifty index exhibited strong bullish momentum this week, climbing 134 points to reach a new all-time high of 26,310.
“On the weekly chart, the index has effectively retested its cup-and-handle pattern and continued its upward trajectory,” noted experts.
Furthermore, Nifty has created a bullish hammer near its lifetime peak, indicating sustained buying interest and the potential for further gains.
“On the daily timeframe, Nifty achieved a decisive close above the critical 26,200 resistance level, finishing the session at 26,202 and showcasing strong follow-through strength,” remarked market analysts.