The market capitalization of seven of the top-10 valued companies surged by Rs 1.23 lakh crore last week, in line with the positive trend in equity markets. The Sensex rose by 720.56 points, or 0.84%, reflecting widespread buying interest across sectors.
Among the top-10 companies, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Larsen & Toubro, and Hindustan Unilever saw their valuations increase. State Bank of India notably gained Rs 30,414.89 crore in market capitalization, reaching Rs 9,22,461.77 crore.
Larsen & Toubro added Rs 16,204.34 crore, totaling Rs 5,72,640.56 crore, while Hindustan Unilever’s market value climbed by Rs 14,626.21 crore to Rs 5,51,637.04 crore. HDFC Bank’s market cap rose by Rs 13,538.43 crore to Rs 15,40,303.87 crore.
ICICI Bank’s valuation also increased by Rs 3,103.99 crore to Rs 9,68,773.14 crore, and Bharti Airtel saw a rise of Rs 570.21 crore to Rs 12,01,262.53 crore. However, some companies experienced declines in market capitalization despite the overall market strength.
Tata Consultancy Services’ valuation dropped by Rs 10,745.72 crore to Rs 11,75,914.62 crore. Infosys witnessed a decrease of Rs 6,183.25 crore, reaching Rs 6,81,635.59 crore, while Bajaj Finance lost Rs 5,693.58 crore, bringing its valuation to Rs 6,16,430.43 crore.
In Nifty’s technical outlook, an analyst highlighted resistance levels at 26,400, 26,500, and 26,600, with support at 26,200 and 26,100. Bank Nifty closed at 60,150.95, achieving a new high of 60,203 and gaining 439 points. Analysts suggested potential corrective moves if selling pressure intensifies.
