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The Indian stock market experienced a week of mixed performance, with four of the top-10 most valued companies witnessing an increase in their market capitalization, while the remaining six saw a decline. The BSE benchmark, Sensex, dipped slightly by 0.19% last week, yet the overall market valuation of these prominent firms exhibited a contrasting trend. ICICI Bank and HDFC Bank emerged as the frontrunners in terms of market value gains, experiencing significant increases of Rs 28,495.14 crore and Rs 23,579.11 crore, respectively. State Bank of India and Bharti Airtel also witnessed considerable growth in their valuations, adding Rs 17,804.61 crore and Rs 11,272.45 crore to their market capitalizations.
In contrast, six other top-tier companies experienced a downturn in their valuations. Infosys saw the most substantial decline, losing Rs 23,314.31 crore from its market capitalization. Reliance Industries, the most valuable domestic firm despite the fluctuations, saw its valuation dip by Rs 16,645.39 crore. Other notable losses were recorded by Hindustan Unilever (Rs 15,248.85 crore), TCS (Rs 10,402.01 crore), LIC (Rs 8,760.12 crore), and ITC (Rs 2,251.37 crore). These fluctuations highlight the dynamic nature of the stock market and the intricate interplay of various factors affecting individual company valuations.
Despite the mixed performance, Reliance Industries maintained its position as the most valued domestic firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC. The overall market movements reflect the ongoing economic conditions and investor sentiment, highlighting the volatility and dynamism inherent in the stock market. As the Indian economy continues to navigate through global challenges and domestic uncertainties, the performance of these top companies will continue to be closely watched as a barometer of broader economic trends.
Source: Market capitalisation of 4 of top-10 most valued cos increases Rs 81,151 crore last week