The combined market valuation of four of the top-10 most valued firms jumped Rs 92,995.48 crore last week, with HDFC Bank and Bharti Airtel emerging as the biggest gainers, PTI reported.
Last week, the BSE benchmark Sensex declined 194.52 points, or 0.25 per cent, and the NSE Nifty dipped 63.95 points, or 0.26 per cent.
“Markets ended the week marginally lower, snapping a four-week winning streak amid renewed geopolitical tensions in West Asia and a sharp spike in crude oil prices,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
Markets started the week on a positive note, supported by easing crude prices, encouraging Q1 business updates, improving monsoon progress, and broad-based buying, he said.
However, sentiment weakened during mid-week following escalating Iran-US tensions, triggering a sharp sell-off before benchmark indices recovered a significant part of the losses over the final two sessions, PTI quoted Mishra.
HDFC Bank’s market valuation surged Rs 35,808.09 crore to Rs 12,69,454.42 crore, the most among the top-10 firms. The valuation of Bharti Airtel jumped Rs 34,896.92 crore to Rs 11,98,774.22 crore, as per PTI.
LIC added Rs 16,065.5 crore, taking its valuation to Rs 5,60,205.05 crore, while the valuation of Reliance Industries climbed Rs 6,224.97 crore to Rs 17,71,206.33 crore.
Market capitalisation decline
However, the market capitalisation (mcap) of Hindustan Unilever dropped by Rs 12,088.65 crore to Rs 5,04,997.65 crore. Larsen & Toubro’s valuation declined by Rs 11,040.23 crore to Rs 5,42,938.40 crore.
The mcap of TCS diminished by Rs 8,574.87 crore to Rs 7,48,600.40 crore, and that of Bajaj Finance eroded by Rs 7,813.58 crore to Rs 6,35,327.78 crore, according to PTI.
Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever. (With Agency Inputs)
