Mumbai, 4 January – The market capitalisation of seven out of the top ten most valuable companies increased by nearly ₹1.23 lakh crore last week, driven by a strong bullish trend in the stock market. Major benchmark indices recorded significant gains during this period.
The BSE Sensex rose by 720.56 points, or 0.84 percent, over the week, reflecting buying interest across various sectors.
Among the top ten companies, shares of HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India (SBI), Larsen & Toubro, and Hindustan Unilever saw the highest price appreciation by the week’s end.
SBI was the biggest gainer in terms of market cap, which increased by ₹30,414.89 crore to reach ₹9,22,461.77 crore.
Larsen & Toubro’s market value rose by ₹16,204.34 crore to ₹5,72,640.56 crore, while Hindustan Unilever’s market cap grew by ₹14,626.21 crore to ₹5,51,637.04 crore.
HDFC Bank’s market capitalisation increased by ₹13,538.43 crore to ₹15,40,303.87 crore. ICICI Bank’s market cap also saw a rise of ₹3,103.99 crore, reaching ₹9,68,773.14 crore.
Bharti Airtel’s market value went up by ₹570.21 crore to ₹12,01,262.53 crore.
Despite broad market strength, some companies experienced a decline in market cap. Tata Consultancy Services (TCS) saw its valuation drop by ₹10,745.72 crore to ₹11,75,914.62 crore.
Infosys’ market cap decreased by ₹6,183.25 crore to ₹6,81,635.59 crore, and Bajaj Finance’s valuation fell by ₹5,693.58 crore to ₹6,16,430.43 crore.
Market experts noted that the immediate resistance levels for the Nifty index stand at 26,400, 26,500, and 26,600 points, with support levels at 26,200 and 26,100 points.
The Bank Nifty closed the week at a record high of 60,150.95 points. Analysts suggest that if selling pressure increases and the index falls below 59,900, it could decline further to between 59,700 and 59,500. On the upside, resistance is expected at 60,300, 60,500, and 60,700 points.
The weekly Relative Strength Index (RSI) is currently at 69.31, indicating a continuing upward trend.
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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