Market weekly update: Mcap of 8 of 10 most valued firms jumps by ₹1.69 lakh crore; Bajaj Finance top winner

Bajaj Finance emerged as the biggest gainer as the combined market valuation of eight of the 10 most valued firms surged by ₹1,69,506.83 crore last week, tracking an optimistic trend in the market.

Last week, the BSE index, SENSEX, climbed 1,193.94 points or 1.47%. Furthermore, on Friday, the index closed at 81,904.70, up 355.97 points, or 0.44%, marking its fifth consecutive day of gains. NIFTY50 closed 108.50 points or 0.43%higher at 25,114 on Friday, registering its eighth straight day of uptrend.

From the top-10 pack, Reliance Industries, HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, and Bajaj Finance were the gainers, while Hindustan Unilever Ltd and LIC faced erosion from their valuation.

The market valuation of Bajaj Finance zoomed by ₹40,788.38 crore to ₹6,24,239.65 crore. Additionally, Infosys increased its market valuation by ₹33,736.83 crore, taking it to ₹6,33,773.30 crore.

The market capitalisation (mcap) of Tata Consultancy Services (TCS) increased by ₹30,970.83 crore to ₹11,33,926.72 crore, and that of Reliance Industries surged by ₹27,741.57 crore to ₹18,87,509.28 crore.

State Bank of India's valuation soared ₹15,092.06 crore to ₹7,59,956.75 crore, and that of ICICI Bank rallied ₹10,644.91 crore to ₹10,12,362.33 crore.

The mcap of HDFC Bank went up by ₹6,141.63 crore to ₹14,84,585.95 crore, and that of Bharti Airtel edged higher by ₹4,390.62 crore to ₹10,85,737.87 crore.

However, the valuation of Hindustan Unilever declined by ₹12,429.34 crore to ₹6,06,265.03 crore.

The mcap of Life Insurance Corporation of India (LIC) declined by ₹1,454.75 crore to ₹5,53,152.67 crore.

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

On the NIFTY50 index, Bharat Electronics emerged as the top gainer, as it closed 3.71% higher at ₹399.45 apiece on Friday.

It was followed by gains in Bajaj Finance (3.34%), Bajaj Finserv (2.23%), Hindalco Industries (2.05%), and Eicher Motors (1.73%), which were also among the top-five winners.

On the flipside, Eternal led losses, falling 1.90% on the last trading day of the week. The other top laggards were Hindustan Unilever (-1.53%), IndusInd Bank (-1.02%), Bajaj Auto (-0.97%), and Trent (-0.81%).