Banking, finance stocks lift market to new highs
New Delhi: Seven of the 10 most valued domestic companies together added Rs 1,31,173.41 crore in market valuation last week, with HUL and TCS emerging as the biggest gainers.
Reliance Industries, Infosys, HDFC, Bajaj Finance and Wipro also saw a rise in their market valuations, while HDFC Bank, ICICI Bank and SBI suffered losses. The market capitalisation (m-cap) of Hindustan Unilever Limited (HUL) zoomed Rs 50,234.21 crore to Rs 6,15,016.63 crore.
The valuation of Tata Consultancy Services (TCS) jumped Rs 35,344.44 crore to reach Rs 13,15,919.03 crore. Bajaj Finance added Rs 30,442.29 crore to its valuation to stand at Rs 4,01,782.58 crore, while Infosys gained Rs 8,335.27 crore to reach Rs 7,34,755.12 crore.
The valuation of HDFC went up by Rs 3,512.87 crore to Rs 4,91,729.99 crore and that of Wipro climbed Rs 2,385.11 crore to Rs 3,39,632.11 crore.
Reliance Industries added Rs 919.22 crore, taking its valuation to Rs 13,60,571.28 crore. In contrast, SBI's valuation dropped Rs 21,776.05 crore to Rs 3,63,187.07 crore.
The valuation of ICICI Bank eroded by Rs 16,854.73 crore to Rs 4,71,497.28 crore and that of HDFC Bank dipped Rs 5,947.03 crore to reach Rs 8,37,756.50 crore.
