Top-10 Firms’ Market Value Rises Despite Weak Markets, TCS & Infosys Lead ₹75,257 Crore Weekly Gain
The combined market capitalisation of six of India’s top-10 most valued companies rose by over Rs 75,000 crore last week, even as the broader market declined. IT majors TCS and Infosys emerged as the biggest gainers, while banking and finance stocks saw losses.
The combined market capitalisation of six of India’s top-10 most valued companies rose by over ₹75,000 crore last week. |
Mumbai: Indian equity markets had a mixed performance last week. The BSE benchmark index declined by 338.3 points, or 0.39 per cent, showing weak overall sentiment. Despite this, the combined market value of six out of the top-10 most valued companies increased by Rs 75,256.97 crore, showing selective buying in large stocks.
IT Giants Lead the Gains
Tata Consultancy Services (TCS) and Infosys emerged as the biggest winners during the week. TCS added Rs 22,594.96 crore to its market capitalisation, taking its total valuation to Rs 11.87 lakh crore.
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Infosys also saw strong gains, with its market value rising by Rs 16,971.64 crore to reach Rs 6.81 lakh crore. The strong performance of IT stocks helped support the overall market value of top companies.
Banking and Energy Stocks Show Strength
Among other gainers, State Bank of India (SBI) saw its market capitalisation rise by Rs 15,922.81 crore, taking its valuation to Rs 9.04 lakh crore. Reliance Industries added Rs 12,314.55 crore, with its market value increasing to Rs 21.17 lakh crore, remaining India’s most-valued company.
Bharti Airtel also performed well, gaining Rs 7,384.23 crore in market value to reach Rs 11.95 lakh crore. Larsen & Toubro (L&T) saw a marginal increase of Rs 68.78 crore, taking its valuation to Rs 5.60 lakh crore.
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Financial Stocks Face Pressure
Not all top companies ended the week in the green. HDFC Bank suffered the biggest loss, with its market capitalisation falling by Rs 21,920.08 crore to Rs 15.16 lakh crore.
The valuation of Life Insurance Corporation of India (LIC) declined by Rs 9,614 crore to Rs 5.39 lakh crore. ICICI Bank also saw its market value fall by Rs 8,427.61 crore, while Bajaj Finance lost Rs 5,880.25 crore in valuation.
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Ranking of Top-Valued Companies
At the end of the week, Reliance Industries remained the most-valued firm in India. It was followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro, and LIC.
The week clearly showed that even in a weak market, select large stocks can deliver strong gains.
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