Mumbai: The combined market capitalisation of six of India’s top-10 most valued companies increased by Rs 63,478.46 crore last week. The broader market also closed higher, with the 30-share BSE Sensex rising 187.95 points, or 0.22 per cent.
The gains were mainly driven by strong buying in select large-cap stocks, even as some companies saw a fall in valuation.
L&T, SBI Biggest Gainers
Larsen & Toubro emerged as the biggest gainer. Its market value jumped by Rs 28,523.31 crore to Rs 6,02,552.24 crore.
State Bank of India (SBI) followed, adding Rs 16,015.12 crore. Its total market valuation now stands at Rs 11,22,581.56 crore.
HDFC Bank also saw its market cap rise by Rs 9,617.56 crore to Rs 14,03,239.48 crore.
Similarly, Life Insurance Corporation of India (LIC) gained Rs 5,977.12 crore, taking its valuation to Rs 5,52,203.92 crore.
Bajaj Finance added Rs 3,142.36 crore, pushing its market capitalisation to Rs 6,40,387 crore.
Companies That Lost Value
Not all top companies ended the week positively. Bharti Airtel saw the sharpest decline, with its valuation falling by Rs 15,338.66 crore.
ICICI Bank also witnessed a drop of Rs 14,632.10 crore.
IT giants Infosys and Tata Consultancy Services (TCS) recorded declines of Rs 6,791.58 crore and Rs 1,989.95 crore, respectively.
Nifty Outlook
Market experts said that on the technical front, 25,800 is the immediate resistance level for Nifty. Further resistance is seen at 26,000 and 26,200.
On the downside, support levels are placed at 25,300 and 25,100. A fall below 25,000 may increase selling pressure and lead to further correction.
