Six of top 10 firms add Rs 1.18 lakh crore in market value; HDFC Bank leads the tally
Mumbai, Feb 9 (IANS) The combined market valuation of six of the top 10 most valuable companies saw a significant rise of Rs 1,18,151.75 crore last week as the rise was mainly driven by positive investor sentiment and steady buying interest in banking and telecom stocks.
HDFC Bank and Bharti Airtel emerged as the biggest gainers, benefitting from strong business performance and growth prospects.
In the last trading week, the Sensex climbed 354.23 points, or 0.45 per cent, while the Nifty added 77.8 points, or 0.33 per cent.
The overall bullish trend in the market was supported by encouraging domestic economic indicators and global cues, helping key companies maintain their upward momentum.
HDFC Bank saw its market capitalisation jump by Rs 32,639.98 crore at Rs 13,25,090.58 crore.
Bharti Airtel also posted impressive gains by adding Rs 31,003.44 crore to take its total valuation to Rs 9,56,205.34 crore.
Bajaj Finance’s market value surged by Rs 29,032.08 crore to Rs 5,24,312.82 crore, while Infosys added Rs 21,114.32 crore to its total valuation, which stood at Rs 7,90,074.08 crore.
ICICI Bank’s market capitalisation also increased slightly by Rs 1,384.81 crore to Rs 8,87,632.56 crore.
However, four companies in the top-10 list experienced a decline in their valuations.
ITC was the biggest loser as the company shed Rs 39,474.45 crore during the week, its total valuation down to Rs 5,39,129.60 crore.
Hindustan Unilever also faced a significant drop by losing Rs 33,704.89 crore to Rs 5,55,361.14 crore.
Tata Consultancy Services (TCS) also witnessed a dip, with its market capitalisation decreasing by Rs 16,064.31 crore to Rs 14,57,854.09 crore.
SBI’s market value dropped by Rs 25,926.02 crore to Rs 6,57,789.12 crore.
The upcoming week is set to be dynamic for global and Indian markets, driven by key macroeconomic data releases and corporate earnings.
According to experts, market sentiment will be shaped by inflation figures, industrial output data, and major earnings announcements.
“The Nifty index decisively closed above its 21-day EMA and a three-week consolidation range, confirming a shift from a negative to a positive trajectory,” Master Trust Group Direcot Puneet Singhania said.
He further said that as long as Bank Nifty sustains above 49,700, it is likely to move towards 50,700, whereas a breakdown below this level could lead to a decline towards 49,200.
–IANS
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