The combined market value of seven of India’s top 10 companies decreased by Rs 1.54 trillion during the holiday-shortened trading week. The Sensex dropped 639.61 points, or 0.84%, and the Nifty slipped 171.55 points, or 0.72%, with investors cautious due to market volatility.
Experts analyzing the Nifty’s technical outlook highlighted immediate resistance levels at 23,900 and 24,100, while support levels were identified at 23,400 and 23,200. A breakdown below 23,200 could lead to more selling pressure, while trading above 24,100 might boost sentiment and aid recovery.
Among the listed firms, HDFC Bank saw the largest decline in market valuation, losing Rs 33,333.06 crore to reach Rs 11.46 trillion. Bharti Airtel’s valuation fell by Rs 25,408.96 crore to Rs 11.14 trillion, and TCS lost Rs 22,920.58 crore, bringing its market cap to Rs 8.15 trillion.
Hindustan Unilever’s valuation decreased by Rs 13,169.46 crore to Rs 5.04 trillion, while Bajaj Finance and ICICI Bank also experienced declines in market worth. Despite market weakness, Larsen & Toubro, State Bank of India, and LIC managed to increase their market valuations.
Larsen & Toubro gained Rs 20,608.43 crore, reaching a market cap of Rs 5.61 trillion. State Bank of India’s valuation rose by Rs 13,753.62 crore to Rs 8.90 trillion, and LIC added Rs 6,040.37 crore, with a market capitalisation of Rs 5.20 trillion.
HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever remained prominent among India’s most valuable companies.
