Market weekly update: Mcap of 7 out of 10 most valued firms surges ₹74,573 crore; HDFC Bank top gainer

The combined market valuation of seven of the top-10 most valued firms climbed ₹74,573.63 crore in a holiday-shortened last week, with HDFC Bank emerging as the biggest gainer in line with a positive trend in equities.

Last week, the BSE benchmark SENSEX jumped 780.71 points or 0.97%, and the NIFTY50 climbed 239.55 points or 0.97%.

While HDFC Bank, Tata Consultancy Services (TCS), ICICI Bank, State Bank of India, Bajaj Finance, Hindustan Unilever, and Life Insurance Corporation of India (LIC) were among the gainers, Reliance Industries, Bharti Airtel, and Infosys faced erosion from their valuation.

HDFC Bank added ₹30,106.28 crore, taking its market valuation to ₹14,81,889.57 crore.

The market capitalisation (Mcap) of LIC jumped ₹20,587.87 crore to ₹5,72,507.17 crore.

The valuation of State Bank of India surged ₹9,276.77 crore to ₹8,00,340.70 crore, and that of Hindustan Unilever climbed ₹7,859.38 crore to ₹5,97,806.50 crore.

The Mcap of ICICI Bank edged higher by ₹3,108.17 crore to ₹9,75,115.85 crore, and that of Bajaj Finance went up by ₹2,893.45 crore to ₹6,15,808.18 crore.

The market valuation of TCS rallied by ₹741.71 crore to ₹10,50,023.27 crore.

However, Reliance Industries faced a decline of ₹19,351.44 crore in its valuation, which stood at ₹18,45,084.98 crore.

Bharti Airtel’s Mcap declined by ₹12,031.45 crore to ₹10,80,891.08 crore, and that of Infosys dipped by ₹850.32 crore to ₹6,00,954.93 crore.

Reliance Industries remained the most valued domestic firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, Hindustan Unilever, and LIC.

On the NIFTY50 index, Tata Steel emerged as the top winner, closing 3.45% higher on Friday. It was followed by Power Grid (2.85%), Kotak Bank (2.17%), Axis Bank (2.03%), and Larsen & Toubro (1.98%), which were also among the top gainers.

On the other hand, shares of Max Healthcare Institute closed in the red, down 3.88%. Tech Mahindra (-1.27%), Eicher Motors (-1.23%), Coal India (-1.18%), and Maruti Suzuki India (-0.98%) were the top losers.