6 Of Top 10 Firms Add Rs 1.62 Lakh Crore in Mcap; Reliance, Infosys, SBI, Airtel Lead The Rally

The Indian stock market pared gains last week as Nifty and Sensex staged a strong recovery on Friday. However, the recent US strikes on Iran's nuclear facility may send market jitters in the next trading session. As of now, the benchmark indices will enter next week with nearly 1.5% gains. Airtel, Reliance, State Bank of India, and Infosys were among the top gainers on NSE for the week.

Whereas, TCS, LIC, Bajaj Finance, and Hindustan Unilever were among the top losers. The combined market valuation of six of the top-10 most-valued firms increased by Rs 1,62,288.06 crore last week. The stock market made decent gains despite geopolitical uncertainty as foreign institutional investors (FIIs) and direct institutional investors (DIIs) remained net buyers.

"Continued buying by both FIIs and DIIs for the third straight session further supported market breadth. Looking ahead, global cues will remain key, with investors monitoring the US manufacturing and services PMI, as well as further developments on the geopolitical front. Markets may consolidate with bouts of volatility," noted Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Mcap Of Top Firms Increases By Rs 1.62 Lakh Crore

Bharti Airtel's market valuation soared by Rs 54,055.96 crore to reach Rs 11,04,469.29 crore. Meanwhile, Reliance Industries added Rs 50,070.14 crore to its valuation, bringing it to Rs 19,82,033.60 crore. These significant gains underscore the strong performance of these companies in the stock market.

HDFC Bank experienced a rise in its valuation by Rs 38,503.91 crore to Rs 15,07,281.79 crore. Infosys also saw an increase of Rs 8,433.06 crore in its market capitalisation (mcap), reaching Rs 6,73,751.09 crore. These gains reflect investor confidence in these financial institutions.

Top Gainers, Losers Of The Week

ICICI Bank's mcap climbed by Rs 8,012.13 crore to reach Rs 10,18,387.76 crore while State Bank of India gained Rs 3,212.86 crore to achieve a valuation of Rs 7,10,399.75 crore. These increases indicate positive investor sentiment towards these banks.
Conversely, Bajaj Finance's valuation fell by Rs 17,876.42 crore to settle at Rs 5,62,175.67 crore. Tata Consultancy Services (TCS) experienced a drop of Rs 4,613.06 crore in its mcap to reach Rs 12,42,577.89 crore.

Declines in Valuation

The valuation of Hindustan Unilever decreased by Rs 3,336.42 crore to stand at Rs 5,41,557.29 crore, while Life Insurance Corporation of India saw a dip of Rs 1,106.88 crore in its valuation to reach Rs 5,92,272.78 crore. This fluctuation in valuations reflects the dynamic nature of the stock market and investor reactions to various economic factors influencing these companies' performances.

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