New Delhi, May 3: The combined market valuation of four of the top-10 most valued firms surged by Rs 2.20 lakh crore in a holiday-shortened last week, with Reliance Industries emerging as the biggest gainer.
Last week, the BSE benchmark Sensex climbed 249.29 points or 0.32 per cent.
“Markets ended the week with marginal gains, reflecting a volatile and range-bound trading environment amid mixed global and domestic cues,” Ajit Mishra â?” SVP, Research, Religare Broking Ltd, said.
The week began on a positive note, supported by easing geopolitical tensions and steady progress in Q4 earnings, which lifted initial sentiment, he said.
However, gains were gradually capped by rising crude oil prices, weak cues from Asian markets, and persistent foreign institutional investor (FII) outflows, Mishra added.
While Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS) and Bajaj Finance were the gainers from the pack, HDFC Bank, State Bank of India, ICICI Bank, Larsen & Toubro, Hindustan Unilever and Life Insurance Corporation of India (LIC) faced a combined erosion of Rs 1.24 lakh crore from their valuation.
Reliance Industries added Rs 1,39,655.8 crore taking its market valuation to Rs 19,36,303.30 crore.
Bharti Airtel’s valuation surged Rs 43,503.51 crore to Rs 11,49,222.13 crore.
The market valuation of TCS jumped Rs 27,569.83 crore to Rs 8,94,933.95 crore and that of Bajaj Finance climbed Rs 9,432.32 crore to Rs 5,83,123.13 crore.
However, the market capitalisation (mcap) of ICICI Bank eroded by Rs 45,364.62 crore to Rs 9,04,980.78 crore. The valuation of State Bank of India dropped Rs 30,922.57 crore to Rs 9,85,829.96 crore.
The mcap of HDFC Bank diminished by Rs 20,951.31 crore to Rs 11,87,274.17 crore and that of Hindustan Unilever edged lower by Rs 18,420.79 crore to Rs 5,28,799.01 crore. (PTI)
