4 of India's top 10 companies add Rs 95,447 crore in market value last week

Mumbai, Nov 2 (IANS) Four of India’s top 10 most valued companies saw their combined market valuation rise by Rs 95,447.38 crore last week, driven by gains in Bharti Airtel, State Bank of India (SBI), and Life Insurance Corporation of India (LIC).

Meanwhile, six other heavyweights, including HDFC Bank, TCS, ICICI Bank, Bajaj Finance, Infosys, and Hindustan Unilever, collectively lost Rs 91,685.94 crore in value.

The market capitalisation of SBI climbed by Rs 30,091.82 crore to reach Rs 8,64,908.87 crore, while Bharti Airtel’s valuation rose by Rs 14,540.37 crore to Rs 11,71,554.56 crore.

LIC also witnessed a rise of Rs 3,383.87 crore, taking its total market value to Rs 5,65,897.54 crore.

However, the broader trend among other top firms was negative. Bajaj Finance saw the steepest decline, with its market value dropping by Rs 29,090.12 crore to Rs 6,48,756.24 crore.

ICICI Bank’s valuation slipped by Rs 21,618.9 crore to Rs 9,61,127.86 crore, and Infosys lost Rs 17,822.38 crore to settle at Rs 6,15,890 crore.

Hindustan Unilever’s valuation fell by Rs 11,924.17 crore to Rs 5,79,561.93 crore, while HDFC Bank’s market cap declined by Rs 9,547.96 crore to Rs 15,18,679.14 crore.

TCS also recorded a marginal loss of Rs 1,682.41 crore, bringing its valuation to Rs 11,06,338.80 crore.

Among the top 10 most valued Indian companies, HDFC Bank continued to hold the second spot, followed by Bharti Airtel, TCS, ICICI Bank, SBI, Bajaj Finance, Infosys, Hindustan Unilever, and LIC.

“The mixed movement in valuations reflects the ongoing volatility in Indian equity markets, with select banking and telecom stocks attracting investor interest while technology and consumer stocks faced selling pressure,” analysts said.

Meanwhile, the Nifty index closed at 25,722.10, registering a 0.28 per cent decline from the previous week’s close.

Commenting on the technical outlook, analysts said that, "On the weekly chart, the index reflects a sideways setup, as it failed to sustain above the 25,800 mark, indicating the possibility of some retracement or consolidation in the near term."

--IANS

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