Six of top-10 most valued firms add ₹1.13 lakh crore in market valuation
Six of the top-10 most valued domestic firms together added ₹1,13,703.82 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in an overall bullish trend in the equity market. Last week, the BSE benchmark jumped 758.95 points or 1.21 per cent. The 30-share BSE index zoomed 466.95 points or 0.74 per cent to settle at a record closing high of 63,384.58 on Friday.
While Reliance Industries, Hindustan Unilever Limited, ITC, Infosys, HDFC and Bharti Airtel were the gainers, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India faced erosion from their market valuations last week.
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Reliance Industries added ₹63,259.05 crore taking its valuation to ₹17,42,415.47 crore. The market capitalisation (mcap) of Hindustan Unilever jumped ₹18,737.99 crore to ₹6,38,019.76 crore.
ITC’s valuation zoomed ₹18,331.32 crore to ₹5,63,237.76 crore and that of Infosys climbed ₹11,059.41 crore to ₹5,36,433.55 crore. The mcap of Bharti Airtel advanced ₹2,016.08 crore to ₹4,66,412.79 crore and that of HDFC gained ₹299.97 crore to ₹4,89,496.34 crore.
However, the market valuation of TCS tumbled ₹12,879.86 crore to ₹11,61,840.29 crore and that of State Bank of India fell by ₹6,514.97 crore to ₹5,09,863.08 crore.
HDFC Bank’s valuation declined by ₹4,722.95 crore to ₹8,95,458.57 crore and that of ICICI Bank went lower by ₹1,882.67 crore to ₹6,53,980.16 crore. Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, ITC, Infosys, State Bank of India, HDFC and Bharti Airtel.
NSE Nifty closed at 18,826, which is near 61 points away from its life-time high of 18,887. BSE Sensex finished at 63,384 levels, near 199 points away from its life-time high of 63,583 levels. After last week’s participatory rally on Dalal Street where small-cap and mid-cap indices hit life-time high, market is sensing that Nifty and Sensex may also climb a new peak following Bank Nifty, small-cap and mid-cap indices.
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Updated: 18 Jun 2023, 03:02 PM IST
