Top Companies Add Massive Value In A Weak Market, TCS & Infosys Lead The Weekly Surge
The combined market value of five of India’s top-10 companies rose by over Rs 72,000 crore last week, led by strong gains in TCS and Infosys. However, Reliance Industries, HDFC Bank, LIC and SBI faced sharp drops in their market valuations.
The combined market value of five of India’s top-10 companies rose by over Rs 72,000 crore last week. | The Sensex crossed 86,000 and Nifty climbed above 26,300 for the first time.
Mumbai: Last week was mixed for the Indian stock market. The BSE Sensex managed a small gain of 5.7 points, while the Nifty slipped 16.5 points. Despite the weak overall mood, several top companies saw strong gains in their market value, helping push up the combined valuation of leading firms.
Big Jump in Market Value
The combined market capitalisation of five of the top-10 most-valued companies increased by Rs 72,284.74 crore during the week. The biggest gains came from IT majors TCS and Infosys, showing strong investor confidence in the technology sector.
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TCS and Infosys Lead the Gainers
Tata Consultancy Services (TCS) emerged as the top gainer. Its market value rose by Rs 35,909.52 crore, taking its total valuation to Rs 11,71,862.37 crore.
Infosys also delivered strong performance. Its market capitalisation increased by Rs 23,404.55 crore to reach Rs 6,71,366.53 crore.
Among other gainers, Bajaj Finance added Rs 6,720.28 crore to reach Rs 6,52,396.39 crore, while Bharti Airtel gained Rs 3,791.9 crore, pushing its valuation to Rs 12,01,832.74 crore. ICICI Bank saw its market value rise by Rs 2,458.49 crore to Rs 9,95,184.46 crore.
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Heavyweights That Lost Value
On the other hand, some large companies faced losses in their market capitalisation. Reliance Industries recorded the biggest fall, with its valuation dropping by Rs 35,116.76 crore to Rs 20,85,218.71 crore.
Life Insurance Corporation of India (LIC) lost Rs 15,559.49 crore, taking its valuation to Rs 5,50,021.80 crore.
State Bank of India (SBI) saw its market value decline by Rs 7,522.96 crore to Rs 8,96,662.19 crore, while HDFC Bank lost Rs 5,724.03 crore, ending at Rs 15,43,019.64 crore. Larsen & Toubro (L&T) also slipped by Rs 4,185.39 crore to Rs 5,55,459.56 crore.
Ranking of Top Companies
Even after the weekly changes, Reliance Industries remained India’s most-valued company. It was followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, SBI, Infosys, Bajaj Finance, L&T and LIC.
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