Amidst stable stock market movements, four of India’s top 10 companies witnessed a combined market value decline of more than Rs 1 lakh crore last week. State Bank of India faced the most significant setback. The Sensex rose by 414.69 points, while the Nifty climbed by 178.6 points during the week.
Bharti Airtel, State Bank of India (SBI), Tata Consultancy Services (TCS), and Larsen & Toubro (L&T) experienced a drop in their market capitalization. On the other hand, HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever, and Life Insurance Corporation of India (LIC) saw their valuations increase.
State Bank of India suffered the most substantial market value decline, losing Rs 44,722.34 crore. Bharti Airtel’s market capitalization decreased by Rs 31,167.1 crore. TCS and Larsen & Toubro also faced reductions in their valuations.
HDFC Bank saw a rise of Rs 15,425.09 crore in market capitalization. Bajaj Finance’s market value increased by Rs 11,486.89 crore. Hindustan Unilever and LIC also experienced gains in their valuations.
HDFC Bank maintained its position as the second most valued company during the week. Experts analyzing Nifty’s technical outlook highlighted resistance levels at 24,500 and 24,600. They also noted support levels at 24,000 and 23,800, with potential increased selling pressure if the index drops below 23,800.
