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SBI, Infosys Lead Rs 75,855 Crore M-Cap Surge Amid Sluggish Market

The combined market valuation of State Bank of India, Infosys, and ICICI Bank surged by Rs 75,855.43 crore last week, defying a generally sluggish market trend. SBI emerged as the biggest gainer with a jump of over Rs 39,000 crore, followed closely by Infosys. This gain nearly offset the combined erosion of Rs 75,549.89 crore suffered by seven other top companies, including HDFC Bank and Larsen & Toubro. Analysts advise caution due to market volatility, noting key resistance and support levels for the Nifty.

Key Points: Top 3 Firms Add Rs 75,855 Crore in Market Valuation

  • SBI valuation jumps Rs 39,045 crore
  • Infosys m-cap rises Rs 31,014 crore
  • ICICI Bank adds Rs 5,795 crore
  • Seven other top firms lose Rs 75,549 crore combined
2 min read

Top 3 firms add Rs 75,855 crore in market valuation last week

SBI and Infosys drove a massive Rs 75,855 crore market cap gain last week, offsetting losses from HDFC Bank, TCS, and others in a volatile market.

"A breakdown below 25,300 could intensify downside pressure and accelerate corrective moves. - Market Analyst"

Mumbai, Jan 18

The combined market valuation of three of India's top companies surged by Rs 75,855.43 crore last week, even as the overall stock market showed a sluggish trend during the holiday-shortened week.

State Bank of India (SBI) and Infosys were the biggest gainers among the top firms. While the Sensex slipped 5.89 points, the Nifty inched up by 11.05 points over the week.

Commenting on Nifty technical outlook, an expert said that "immediate resistance is placed at 25,875, followed by 26,000 and 26,100 levels. On the downside, support is seen at 25,600 and 25,450."

"A breakdown below 25,300 could intensify downside pressure and accelerate corrective moves. Given the prevailing volatility, a cautious approach with strict stop-loss discipline is advised," an analyst stated.

Among the top companies, ICICI Bank, SBI, and Infosys recorded gains, while HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro faced a combined erosion of Rs 75,549.89 crore in their market value.

Interestingly, the total loss of these seven companies was still slightly less than the total m-cap addition of the three gainers.

SBI emerged as the biggest gainer, with its market valuation jumping by Rs 39,045.51 crore to reach Rs 9,62,107.27 crore.

Infosys also saw a strong increase, with its m-cap rising by Rs 31,014.59 crore to Rs 7,01,889.59 crore.

ICICI Bank added Rs 5,795.33 crore, taking its market value to Rs 10,09,470.28 crore.

On the other hand, Larsen & Toubro's market valuation fell by Rs 23,501.8 crore to Rs 5,30,410.23 crore, while HDFC Bank's valuation dropped by Rs 11,615.35 crore to Rs 14,32,534.91 crore.

Bharti Airtel's m-cap declined by Rs 6,443.38 crore to Rs 11,49,544.43 crore, Bajaj Finance saw a dip of Rs 6,253.59 crore to Rs 5,91,447.16 crore, Hindustan Unilever lost Rs 3,312.93 crore to stand at Rs 5,54,421.30 crore, and TCS's valuation slipped by Rs 470.36 crore to Rs 11,60,212.12 crore.

After these movements, HDFC Bank remained the second most valued domestic company, followed by TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro.

- IANS

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Reader Comments

P
Priya S
The numbers are staggering. SBI adding nearly 40k crore in a week is phenomenal. But the expert's warning about volatility is crucial. Retail investors like us should not get carried away by such headlines.
R
Rohit P
Interesting to see L&T and HDFC Bank taking such a hit. Seems like profit booking in some heavyweights. The market is always a mix of ups and downs.
S
Sarah B
As someone new to Indian markets, this analysis is helpful. The support and resistance levels mentioned give a clearer picture. The gains by the top three are impressive, but the overall sentiment seems cautious.
V
Vikram M
ICICI Bank holding strong above 10 lakh crore market cap is a proud moment. Our banking sector is truly world-class. However, I wish the article had more on what drove Infosys's surge specifically.
K
Karthik V
A classic case of sector rotation. Money moving from FMCG (HUL) and some financials to PSU banks and IT. The key takeaway is discipline, just like the analyst said. Stop-loss is your best friend in such times.

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