Market cap of six top-10 firms jump Rs 63,478 crore

India’s top-10 companies saw mixed market performance last week, with Larsen & Toubro and State Bank of India leading gains of Rs 28,523 crore and Rs 16,015 crore, while Bharti Airtel and ICICI Bank faced major valuation declines

Mumbai:  The combined market valuation of six of India’s top-10 most valued companies rose by Rs 63,478.46 crore last week, with Larsen & Toubro and State Bank of India emerging as the biggest gainers.

The broader market also ended the week on a positive note, as the 30-share BSE Sensex advanced 187.95 points, or 0.22 per cent.

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Among the gainers, Larsen & Toubro saw its market capitalisation jump by Rs 28,523.31 crore to Rs 6,02,552.24 crore. State Bank of India added Rs 16,015.12 crore, taking its total valuation to Rs 11,22,581.56 crore.

The market value of HDFC Bank climbed by Rs 9,617.56 crore to Rs 14,03,239.48 crore. Similarly, Life Insurance Corporation of India gained Rs 5,977.12 crore, pushing its valuation to Rs 5,52,203.92 crore.

Bajaj Finance also witnessed an increase in its market capitalisation by Rs 3,142.36 crore to Rs 6,40,387 crore. However, not all companies ended the week on a positive note. The market capitalisation of Bharti Airtel declined sharply by Rs 15,338.66 crore to Rs 11,27,705.37 crore. ICICI Bank also saw its valuation fall by Rs 14,632.10 crore to Rs 9,97,346.67 crore.

The mcap of Infosys dropped by Rs 6,791.58 crore to Rs 5,48,496.14 crore, while Tata Consultancy Services lost Rs 1,989.95 crore, bringing its valuation down to Rs 9,72,053.48 crore.

The most-valued company in the country include HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India, and Infosys in the ranking of the top-10 most valued firms.

Meanwhile, commenting on Nifty technical outlook, experts said that from a levels perspective, 25,800 stands as the immediate resistance, followed by 26,000 and 26,200.

“On the downside, key supports are located at 25,300 and 25,100. A decisive break below 25,000 could increase downside momentum and accelerate corrective pressure,” an analyst stated.