The combined market valuation of nine of the top-10 most valued firms climbed ₹1,30,391.96 crore last week, with Bharti Airtel and Tata Consultancy Services (TCS) emerging as the biggest gainers, amid an overall optimistic trend in equities. Last week, the BSE benchmark jumped 1,511.15 points or 2.29 per cent. Sensex hit its 11-week high, closing at the highest closing level since September 18, and logged its fifth straight weekly gain, along with Nifty 50.
Barring Reliance Industries, nine other companies including HDFC Bank, ICICI Bank, Infosys and Hindustan Unilever witnessed addition in their market valuation. Bharti Airtel’s valuation rallied ₹23,746.04 crore to ₹5,70,466.88 crore. The market capitalisation (mcap) of TCS jumped by ₹19,027.07 crore to reach ₹12,84,180.67 crore. HDFC Bank added ₹17,881.88 crore, taking its market valuation to ₹11,80,588.59 crore.
Vinod Nair, Head of Research at Geojit Financial Services said, “The market soared to new heights this week, decisively breaching the key resistance level and closing strongly above 20,000 levels…The IPO market maintained its vibrancy, highlighted by Tata Technology’s monumental listing, fostering increased investor confidence in riskier assets.”
ITC‘s mcap climbed ₹15,159.02 crore to ₹5,61,159.09 crore and that of Bajaj Finance soared ₹14,480.29 crore to ₹4,48,446.82 crore. The valuation of ICICI Bank surged ₹12,085.42 crore to ₹6,63,370.71 crore and that of Hindustan Unilever advanced ₹11,348.53 crore to ₹6,02,258.98 crore.
The mcap of State Bank of India went up by ₹10,307.92 crore to ₹5,10,353.93 crore and that of Infosys climbed ₹6,355.79 crore to ₹6,02,747.01 crore. However, the market valuation of Reliance Industries declined by ₹574.95 crore to ₹16,19,332.44 crore.
In the ranking of top-10 firms, Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India and Bajaj Finance.
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Updated: 03 Dec 2023, 01:53 PM IST