Mcap of 4 of top-10 most valued firms jumps Rs 92,995 cr; HDFC Bank, Airtel top gainers
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
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.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, Mishra added.The gainers from the top-10 pack were Reliance Industries, HDFC Bank, Bharti Airtel and Life Insurance Corporation of India (LIC), while ICICI Bank, State Bank of India, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro and Hindustan Unilever faced a combined erosion of Rs 49,294.13 crore from their valuation.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.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.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.ICICI Bank's mcap edged lower by Rs 6,315.32 crore to Rs 10,05,379.71 crore, while the valuation of State Bank of India dipped by Rs 3,461.48 crore to Rs 9,56,430.44 crore.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.
The BriefWire