Mcap of four of top-10 most valued firms jumps Rs 1.43 lakh cr; State Bank biggest winner
The combined market valuation of four of the top-10 most valued firms jumped Rs 1.43 lakh crore last week, with State Bank of India emerging
The combined market valuation of four of the top-10 most valued firms jumped Rs 1.43 lakh crore last week, with State Bank of India emerging as the biggest gainer.Last week, the BSE benchmark Sensex climbed 404.53 points, or 0.51 per cent, and the NSE Nifty went up by 187.05 points, or 0.76 per cent."Markets ended the week with modest gains despite heightened volatility, as investors navigated the roll-out of the new Closing Auction Session (CAS) framework for F&O stocks, the Reserve Bank of India's monetary policy decision, and lingering geopolitical uncertainties," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.From the top-10 pack, Reliance Industries, State Bank of India, Tata Consultancy Services (TCS) and Larsen & Toubro were the gainers, while Bharti Airtel, HDFC Bank, ICICI Bank, Bajaj Finance, Life Insurance Corporation of India (LIC) and Hindustan Unilever faced a combined erosion of Rs 1.23 lakh crore from their valuation.State Bank of India added Rs 63,922.03 crore, taking its market valuation to Rs 10,11,721.84 crore.The valuation of Reliance Industries jumped Rs 32,816.4 crore to Rs 18,01,925.19 crore, and that of TCS surged Rs 31,875.35 crore to Rs 8,87,770.13 crore.The market capitalisation (mcap) of Larsen & Toubro climbed Rs 14,637.76 crore to Rs 5,56,482.45 crore.However, the valuation of LIC tumbled Rs 40,543.23 crore to Rs 4,96,891.82 crore.The mcap of Bajaj Finance eroded by Rs 37,168.96 crore to Rs 6,73,648.55 crore, and that of HDFC Bank dropped Rs 24,183.16 crore to Rs 11,27,967.47 crore.The valuation of ICICI Bank declined by Rs 9,507.67 crore to Rs 10,20,370.63 crore, and that of Bharti Airtel eroded by Rs 7,581.65 crore to Rs 12,22,423.98 crore.The mcap of Hindustan Unilever dipped by Rs 4,793.16 crore to Rs 4,88,808.97 crore.Reliance Industries remained the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
The BriefWire