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Top Firms Add Rs 1.23 Lakh Crore as Markets Rally; SBI Leads Gains

Seven of India's top-10 most-valued companies collectively added Rs 1.23 lakh crore in market capitalisation last week, buoyed by a positive trend in equity markets. State Bank of India emerged as a standout performer with a gain of over Rs 30,000 crore, followed by significant increases for Larsen & Toubro and Hindustan Unilever. However, not all giants participated in the rally, as Tata Consultancy Services, Infosys, and Bajaj Finance witnessed declines in their valuations. The Bank Nifty index scaled a fresh all-time high, reflecting sustained bullish momentum in banking stocks.

Key Points: Top 10 Firms Add Rs 1.23 Lakh Crore in Market Cap

  • SBI market cap rose by Rs 30,414 crore
  • L&T added Rs 16,204 crore
  • HUL valuation climbed Rs 14,626 crore
  • TCS and Infosys saw declines
2 min read

7 of top-10 firms add Rs 1.23 lakh crore in market cap last week

Seven of India's top-10 firms saw market cap surge by Rs 1.23 lakh crore last week. SBI, L&T, HUL were top gainers while TCS, Infosys declined.

7 of top-10 firms add Rs 1.23 lakh crore in market cap last week
"On the upside, immediate resistance is placed at 26,400, followed by 26,500 and 26,600 - Market Analyst"

Mumbai, Jan 4

The combined market capitalisation of seven of the top-10 most-valued companies rose by Rs 1.23 lakh crore last week, tracking a positive trend in the equity markets as benchmark indices posted healthy gains.

The upbeat sentiment helped the Sensex climb 720.56 points, or 0.84 per cent, during the week -- reflecting broad-based buying interest across sectors.

Among the top-10 most valuable companies, shares of HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Larsen & Toubro and Hindustan Unilever ended the week with higher valuations.

State Bank of India emerged as one of the biggest gainers, with its market capitalisation rising by Rs 30,414.89 crore to Rs 9,22,461.77 crore.

Larsen & Toubro added Rs 16,204.34 crore to reach a valuation of Rs 5,72,640.56 crore, while Hindustan Unilever saw its market value climb by Rs 14,626.21 crore to Rs 5,51,637.04 crore.

HDFC Bank's market capitalisation increased by Rs 13,538.43 crore to Rs 15,40,303.87 crore.

ICICI Bank also saw gains, with its valuation rising by Rs 3,103.99 crore to Rs 9,68,773.14 crore.

Bharti Airtel's market value edged higher by Rs 570.21 crore to Rs 12,01,262.53 crore.

On the other hand, some companies witnessed a decline in their market capitalisation despite the broader market strength.

The valuation of Tata Consultancy Services fell by Rs 10,745.72 crore to Rs 11,75,914.62 crore.

Infosys saw its market capitalisation drop by Rs 6,183.25 crore to Rs 6,81,635.59 crore, while Bajaj Finance lost Rs 5,693.58 crore, taking its valuation to Rs 6,16,430.43 crore.

Meanwhile, commenting on Nifty technical outlook, an analyst said that "on the upside, immediate resistance is placed at 26,400, followed by 26,500 and 26,600, while on the downside, support is seen at 26,200 and then at 26,100."

Bank Nifty ended the session with sustained bullish momentum, scaling a fresh all-time high of 60,203 and gaining 439 points before closing the week at 60,150.95.

"However, if selling pressure re-emerges and the index decisively breaks below the 59,900 mark, it could open the door for a deeper corrective move toward the 59,700-59,500 zone, with the possibility of further downside if weakness intensifies," an analyst said.

"On the upside, immediate resistance is placed at 60,300, followed by 60,500 and 60,700. The weekly RSI stands at 69.31 and continues to trend higher," according to the analyst.

- IANS

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Reader Comments

S
Sarah B
Interesting to see the divergence within the top 10. While banks and industrials like L&T gained, IT majors TCS and Infosys lost value. Maybe the market is rotating into domestic-focused stories? As a long-term investor, I'm holding both types.
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Rohit P
Rs 1.23 lakh crore added in just one week! That's massive. The Bank Nifty at a new high is particularly encouraging. Shows confidence in the Indian banking system. Feeling bullish about my SIPs in these blue-chip stocks. 💹
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Priya S
While the gains are impressive, I hope this wealth creation trickles down. Sometimes these headline numbers feel disconnected from the ground reality for common people. More focus on inclusive growth alongside market highs would be ideal.
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Vikram M
HUL and L&T performing well is a solid indicator of domestic consumption and infrastructure spending holding up. That's the real backbone of our economy. The IT dip might be a temporary blip due to global factors.
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Michael C
The technical analysis at the end is useful for traders, but for most of us, it's noise. The key takeaway is the broad-based strength. As an NRI investor, news like this reinforces my decision to allocate a portion of my portfolio to India.

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