The combined market worth of three leading Indian companies rose by Rs 75,855.43 crore last week, a period marked by a sluggish overall stock market performance. State Bank of India (SBI) and Infosys notably saw significant gains, with the Sensex slipping marginally by 5.89 points while the Nifty edged up by 11.05 points.
An expert analyzing the Nifty technical outlook highlighted key levels, stating that immediate resistance lies at 25,875, followed by 26,000 and 26,100, with support levels at 25,600 and 25,450. Emphasizing caution due to existing volatility, an analyst recommended a vigilant approach with strict stop-loss discipline.
Among the top companies, ICICI Bank, SBI, and Infosys observed market value increases, whereas HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro collectively experienced a decline of Rs 75,549.89 crore in their market capitalization.
Notably, the total loss incurred by these seven companies was slightly lower than the combined market cap addition of the three gainers. SBI emerged as the top gainer, witnessing a substantial rise in market valuation by Rs 39,045.51 crore to reach Rs 9,62,107.27 crore.
Infosys also displayed a robust growth, with its market capitalization increasing by Rs 31,014.59 crore to Rs 7,01,889.59 crore. ICICI Bank saw an addition of Rs 5,795.33 crore, bringing its market value to Rs 10,09,470.28 crore.
Conversely, Larsen & Toubro experienced a decrease in market valuation by Rs 23,501.8 crore to Rs 5,30,410.23 crore, while HDFC Bank’s worth dropped by Rs 11,615.35 crore to Rs 14,32,534.91 crore. Bharti Airtel, Bajaj Finance, Hindustan Unilever, and TCS also faced declines in their market capitalization.
Following these developments, HDFC Bank maintained its position as the second most valued domestic company, trailing behind TCS, with Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro following suit.
