Eight of top 10 most valued firms add m-cap of ₹82,169 cr last week; HDFC twins sparkle
2 min read . Updated: 09 Apr 2023, 12:42 PM IST
PremiumStock market responded positively to the sudden rate pause by the RBI. The market capitalisation of eight of top-10 valued firms climbed to ₹82,169 crore last week
Despite two extra holidays last week, stock markets witnessed a cheerful rally after RBI's surprise move to pause repo rate hike. Eight of the top 10 most valued firms added ₹82,169.3 crore in market's kitty between April 3rd to 7th. Out of all the companies, HDFC twins emerged as the biggest winners.
Last week, on being closed on April 4th for ‘Mahavir Jayanti’ and on April 7th due to ‘Good Friday’, the BSE Sensex rose by 841.45 points or 1.42 per cent. On the other hand, the broad-based Nifty earned 239.4 points, or 1.37 per cent to end at 17,599.15.
The top ten gainers of the week included firms like Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Ltd, HDFC and ITC. All these stocks experienced a massive gains in their market valuation.
The valuation of HDFC Bank jumped from ₹31,553.45 crore to ₹9,29,752.54 crore. Meanwhile, its parent, HDFC's market valuation increased by ₹18,877.55 crore to reach at ₹5,00,878.67 crore.
Another winner in the market rally was Bharti Airtel. This telecom giant added ₹9,533.48 crore, boosting its valuation to ₹4,27,111.07 crore.
Heavyweight Reliance's shares also saw substantial climb which led its market capitalisation to rise by ₹6,731.76 crore to ₹15,83,824.42 crore by the end of the said week. TCS' market capitalisation advanced by ₹5,817.89 crore to ₹11,78,836.58 crore.
RIL is the most valued company in India in terms of market share, followed by TCS and HDFC Bank in the top 3 list.
In the FMCG sector, ITC's market capitalisation picked up by ₹4,722.65 crore to ₹4,81,274.99 crore during the trading week that ended on April 6th.
Another FMCG in the list of high performing stock was Hindustan Unilever (HUL), which added ₹1,139.56 crore to boost its market valuation to ₹6,02,341.22 crore.
Apart from FMCG, there was a sharp rally seen in major PSU bank stocks as well. Out of them, State Bank of India's market cap increased ₹3,792.96 crore to ₹4,71,174.89 crore last week.
There were many stocks that were unable to turn the market rally into their favour. Infosys shares witnessed a downside which led its market cap to slip by ₹2,323.2 crore to ₹5,89,966.72 crore. Mcap of ICICI Bank also fell by ₹1,780.62 crore to ₹6,10,751.98 crore.
The top 10 most valued firms list includes – Reliance Industries at the top, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, HDFC, ITC, State Bank of India and Bharti Airtel.