A holiday-shortened week that finally saw an uptick in the Indian benchmark indices last week also ended in higher market valuation of at least the top five of the 10 most-valued firms.
Led by the State Bank of India and the HDFC Bank, market capitalisation (mcap) of Reliance Industries, Bharti Airtel and Infosys reached new highs, adding to the total increase of ₹60,675.94 crore last week.
The lead gainers, in line with a positive trend in equities and relative easing of global trade uncertainties, at least for now, have been uplifting for the Indian stock markets.
Last week, the Sensex climbed 739.87 points or 0.92 per cent, and the Nifty edged higher by 268 points or 1.10 per cent.
The valuation of State Bank of India jumped ₹20,445.82 crore to ₹7,63,095.16 crore, the most among the top-10 firms.
Next was the HDFC Bank, whose mcap surged ₹14,083.51 crore to ₹15,28,387.09 crore.
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Infosys also added to the total with ₹9,887.17 crore, taking its valuation to ₹6,01,310.19 crore. The mcap of Bharti Airtel surged ₹8,410.6 crore to ₹10,68,260.92 crore and that of Reliance Industries went up by ₹7,848.84 crore to ₹18,59,023.43 crore.
Meanwhile, the laggards were Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever Ltd, Life Insurance Corporation of India (LIC) and Bajaj Finance, which faced erosion from their market capitalisation.
The mcap of LIC tumbled ₹15,306.5 crore to ₹5,61,881.17 crore; that of Bajaj Finance faced an erosion of ₹9,601.08 crore to ₹5,35,547.44 crore; while the mcap of ICICI Bank declined by ₹6,513.34 crore to ₹10,18,982.35 crore.
The mcap of TCS fell by ₹4,558.79 crore to ₹10,93,349.87 crore, and that of Hindustan Unilever dipped by ₹3,630.12 crore to ₹5,83,391.76 crore.
Reliance Industries retained the title of the most-valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, LIC and Bajaj Finance.
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