Mumbai, Dec 7 (LatestNewsX) – The total market cap of India’s five most valuable firms climbed by Rs 72,284.74 crore last week, even though the overall indices were mostly flat. TCS and Infosys led the rally.
Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance all saw their valuations rise. Conversely, Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro and LIC had their market caps fall.
TCS added the largest boost, up Rs 35,909.52 crore to reach a market cap of Rs 1 171.862.37 crore. Infosys followed with a jump of Rs 23,404.55 crore, taking its valuation to Rs 671.366.53 crore. Bajaj Finance gained Rs 6,720.28 crore, bringing it to Rs 652.396.39 crore. Bharti Airtel’s cap rose by Rs 3,791.90 crore to Rs 1 201.832.74 crore, while ICICI Bank climbed by Rs 2,458.49 crore to Rs 995.184.46 crore.
On the downside, Reliance Industries fell the steepest, shedding Rs 35,116.76 crore to Rs 2 085.218.71 crore. LIC declined by Rs 15,559.49 crore to Rs 550.021.80 crore. State Bank of India lost Rs 7,522.96 crore, ending at Rs 896.662.19 crore, and HDFC Bank slipped by Rs 5,724.03 crore to Rs 1 543.019.64 crore. Larsen & Toubro also dipped, down Rs 4,185.39 crore to a valuation of Rs 555.459.56 crore.
Despite these shifts, the group – HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC – still rank among the country’s top companies by market value.
Meanwhile, commenting on the Nifty’s technical outlook, experts said, “on the upside, immediate resistance is placed at 26,300, followed by 26,400 and 26,500. On the downside, support is seen at 26,100, and then at 26,000, with a break below 25,850 likely to attract additional selling pressure.”
pk
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