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Top Firms Defy Market Slump: How 6 Giants Added Rs 75,257 Crore

Last week was a tale of two markets. While the overall Sensex fell, six of the top ten companies managed to add a massive Rs 75,257 crore to their combined value. IT giants TCS and Infosys were the standout performers, leading the charge with significant gains. However, major financial stocks like HDFC Bank and ICICI Bank faced substantial losses, highlighting sector-specific pressures.

Key Points: TCS Infosys SBI Lead Rs 75,257 Crore Market Cap Gain

  • TCS valuation surged by Rs 22,595 crore to lead the gainers
  • Infosys added Rs 16,972 crore, showing strong IT sector performance
  • SBI's market cap climbed by Rs 15,923 crore amid the broader rally
  • HDFC Bank faced the biggest loss, with valuation falling Rs 21,920 crore
2 min read

Top 6 firms add Rs 75,257 crore in market value

TCS, Infosys, and SBI led major gains as six top firms added Rs 75,257 crore in market value last week, despite a falling Sensex.

"On the downside, support is seen at 25,900 and then 25,800, with a break below 25,700 likely to attract additional selling pressure. - Market Watchers"

Mumbai, Dec 21

The combined market value of six of the top-10 most-valued companies rose by Rs 75, 256.97 crore last week, even as the broader stock market remained under pressure.

Tata Consultancy Services and Infosys emerged as the biggest gainers during the week.

The benchmark Sensex fell 338.3 points, or 0.39 per cent, during the week -- reflecting cautious sentiment among investors.

Among the major gainers, Tata Consultancy Services saw its market valuation rise by Rs 22,594.96 crore to Rs 11,87,673.41 crore.

Infosys also posted strong gains, with its valuation increasing by Rs 16,971.64 crore to Rs 6,81,192.22 crore.

The market capitalisation of State Bank of India climbed by Rs 15,922.81 crore to Rs 9,04,738.98 crore.

Bharti Airtel added Rs 7,384.23 crore to its valuation, which stood at Rs 11,95,332.34 crore at the end of the week.

Larsen & Toubro also ended higher, though marginally, with its market value rising by Rs 68.78 crore to Rs 5,60,439.16 crore.

On the other hand, several financial stocks faced losses in their market value.

HDFC Bank saw the biggest erosion, with its market capitalisation falling by Rs 21,920.08 crore to Rs 15,16,638.63 crore.

The valuation of Life Insurance Corporation of India declined by Rs 9,614 crore to Rs 5,39,206.05 crore.

ICICI Bank also witnessed a drop in its market value, which fell by Rs 8,427.61 crore to Rs 9,68,240.54 crore.

Similarly, Bajaj Finance saw its valuation dip by Rs 5,880.25 crore to Rs 6,27,226.44 crore.

At the end of the week, HDFC Bank remained among the most-valued company among the group mentioned, followed by Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.

Commenting on Nifty technical outlook, experts said that “on the upside, immediate resistance is placed at 26,000, followed by 26,200 and 26,400.”

“On the downside, support is seen at 25,900 and then 25,800, with a break below 25,700 likely to attract additional selling pressure,” market watchers mentioned.

- IANS

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Reader Comments

S
Sarah B
Interesting to see the divergence. While IT and SBI gained, the financial sector took a hit, especially HDFC Bank. Shows how selective the market is being right now. Time to review my portfolio.
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Vikram M
SBI adding nearly 16k crore is fantastic! As a proud account holder, it's good to see our public sector bank holding its own among these private giants. Keep it up!
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Rohit P
The numbers for L&T seem almost negligible compared to the others. For such a massive infrastructure company, a gain of just ~69 crore when others are adding thousands is a bit concerning, no? 🤔
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Priya S
Bharti Airtel quietly becoming the second most valued company here! With 5G rollout and digital services, it's no surprise. Jio's competition is really pushing them to do better.
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Nikhil C
The article highlights gains but the Sensex still fell. It feels a bit like celebrating a few students topping the class when the overall pass percentage is down. We need a broader recovery.

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