The combined market capitalisation of four of India’s top-10 most valued companies rose by Rs 2.20 lakh crore during a holiday-shortened week, supported by strong gains in select heavyweight stocks.
The benchmark BSE Sensex ended the week with a modest gain of 249.29 points, or 0.32 per cent.
Among the gainers, Bharti Airtel recorded a sharp increase of Rs 43,503.51 crore, taking its valuation to Rs 11,49,222.13 crore.
Tata Consultancy Services saw its market capitalisation rise by Rs 27,569.83 crore to Rs 8,94,933.95 crore, while Bajaj Finance added Rs 9,432.32 crore, reaching Rs 5,83,123.13 crore.
On the losing side, banking and financial stocks witnessed notable declines.
ICICI Bank posted the steepest drop, with its market value falling by Rs 45,364.62 crore to Rs 9,04,980.78 crore.
State Bank of India declined by Rs 30,922.57 crore to Rs 9,85,829.96 crore, while HDFC Bank saw a reduction of Rs 20,951.31 crore, taking its valuation to Rs 11,87,274.17 crore.
Other declines included Hindustan Unilever, which lost Rs 18,420.79 crore, and Life Insurance Corporation of India, which shed Rs 8,222.49 crore. Larsen & Toubro saw a marginal dip of Rs 178.83 crore.
Despite the mixed trend, Reliance Industries remained the most valued company in India, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.
Market experts indicated that the immediate resistance for Nifty 50 lies in the 24,300–24,400 range, with a sustained move above this level needed to push towards 24,600–24,800.
On the downside, 23,800 is seen as a key support, with further weakness potentially leading to 23,600–23,400 levels.
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