New Delhi: Despite a weak week for benchmark indices, four of India’s 10 most valuable companies added nearly Rs 93,000 crore to their combined market capitalization led by strong gains in HDFC Bank and Bharti Airtel.The combined valuation of Reliance Industries, HDFC Bank, Bharti Airtel and Life Insurance Corporation of India (LIC) surged by Rs 92,995.48 crore during the week, while the market value of the remaining six companies in the top-10 pack lost Rs 49,294.13 crore.
Performance of four gainers
- HDFC Bank was the biggest gainer, with its market capitalization rising by Rs 35,808.09 crore to Rs 12.69 lakh crore.
- After this, Bharti Airtel added Rs 34,896.92 crore, taking its valuation to Rs 11.99 lakh crore.
- LIC’s market value increased by Rs 16,065.5 crore to Rs 5.60 lakh crore
- Reliance Industries added Rs 6,224.97 crore and retained its position as India’s most valuable listed company with a market capitalization of Rs 17.71 lakh crore.
hanger
Hindustan Unilever recorded the biggest decline among the top 10 companies, with its valuation falling by Rs 12,088.65 crore to Rs 5.05 lakh crore.Larsen & Toubro lost Rs 11,040.23 crore in market value, while Tata Consultancy Services (tcs) saw a decline of Rs 8,574.87 crore in valuation. Bajaj Finance declined by Rs 7,813.58 crore, followed by ICICI Bank, whose market capitalization declined by Rs 6,315.32 crore. State Bank of India also saw a decline of Rs 3,461.48 crore during the week.Meanwhile, equity markets ended the week in negative territory amid renewed geopolitical concerns and rising crude oil prices. The BSE Sensex fell 194.52 points or 0.25%, while the NSE Nifty fell 63.95 points or 0.26%.Ajit Mishra, Senior Vice President (Research), Religare Broking, said the market started the week on a strong note, supported by softening crude oil prices, Q1 trade update, favorable monsoon progress and broad-based buying.However, sentiment weakened mid-week after tensions between the US and Iran escalated, triggering a sharp selloff before benchmark indices recovered a significant portion of their losses in the last two trading sessions.
