Despite a weak week for the market, select heavyweight stocks helped cushion the fall, with six of the top-10 most-valued companies adding a combined Rs 75,256.97 crore to their market capitalisation.
The BSE benchmark slipped 338.3 points, or 0.39 per cent, during the week, reflecting cautious investor sentiment. Yet, stocks from the IT, telecom and energy space managed to post gains, led by Tata Consultancy Services and Infosys.
Tata Consultancy Services emerged as the biggest gainer. The company’s market valuation jumped Rs 22,594.96 crore to Rs 11,87,673.41 crore. Infosys followed close behind, adding Rs 16,971.64 crore to take its valuation to Rs 6,81,192.22 crore.
State Bank of India also saw a strong rise, with its market capitalisation climbing Rs 15,922.81 crore to Rs 9,04,738.98 crore. Reliance Industries edged higher by Rs 12,314.55 crore, taking its valuation to Rs 21,17,967.29 crore.
Bharti Airtel’s market cap advanced Rs 7,384.23 crore to Rs 11,95,332.34 crore, while Larsen & Toubro recorded a marginal increase of Rs 68.78 crore, pushing its valuation to Rs 5,60,439.16 crore.
On the other side, banking and financial stocks dragged down the overall tally. HDFC Bank saw the sharpest erosion, with its market capitalisation tumbling Rs 21,920.08 crore to Rs 15,16,638.63 crore.
Life Insurance Corporation of India lost Rs 9,614 crore, taking its valuation to Rs 5,39,206.05 crore. ICICI Bank’s market cap declined by Rs 8,427.61 crore to Rs 9,68,240.54 crore, while Bajaj Finance slipped Rs 5,880.25 crore to Rs 6,27,226.44 crore.
At the end of the week, Reliance Industries retained its position as India’s most-valued company. It was followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC, in that order.