7 top Indian firms add Rs 96,200 crore in market value

by IANS |

Mumbai, Nov 30 (IANS) The combined market value of seven out of the ten most highly valued Indian companies rose by Rs 96,200.95 crore last week, helped by an overall positive mood in the equity markets.

The broader indices also supported the gains, with the BSE Sensex climbing 474.75 points, or 0.55 per cent, during the week and touching a new all-time high of 86,055.86 on Thursday.

Among the top gainers, Bajaj Finance added Rs 20,347.52 crore to its valuation, taking its market capitalisation to Rs 6,45,676.11 crore.

HDFC Bank reported an increase of Rs 13,611.11 crore, pushing its valuation to Rs 15,48,743.67 crore.

ICICI Bank also saw a strong rise of Rs 13,599.62 crore, lifting its market worth to Rs 9,92,725.97 crore.

Hindustan Unilever added Rs 7,671.41 crore during the week, taking its valuation to Rs 5,79,644.16 crore.

State Bank of India posted gains of Rs 6,415.28 crore to reach Rs 9,04,185.15 crore, while Infosys added Rs 6,273.15 crore, with its valuation now at Rs 6,47,961.98 crore.

On the losing side, Bharti Airtel recorded the sharpest decline, slipping by Rs 35,239.01 crore in market value.

LIC’s valuation dropped by Rs 4,996.75 crore, and TCS saw an erosion of Rs 3,762.81 crore during the week.

In the list of the ten most valued companies, HDFC Bank remained in second place overall, followed by Bharti Airtel, TCS, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and LIC.

Meanwhile, the Nifty index displayed strong bullish momentum this week, rising 134 points to register a new all-time high of 26,310.

“On the weekly chart, the index has successfully retested its cup-and-handle pattern and extended its upward move,” experts said.

Additionally, Nifty has formed a bullish hammer near its lifetime high, suggesting sustained buying interest and the potential for further upside.

“On the daily timeframe, Nifty posted a decisive close above the crucial 26,200 resistance level, ending the session at 26,202 and demonstrating strong follow-through strength,” market watchers mentioned.