Mumbai: Last week witnessed a significant surge in the market capitalisation of seven out of the top 10 most valuable companies, which collectively increased by nearly ₹1.23 lakh crore. This rise was driven by a positive trend across the stock market, reflected in substantial gains in key benchmark indices.
The BSE Sensex recorded a weekly gain of 720.56 points, or 0.84 percent, indicating broad-based buying interest across various sectors.
Among the leading companies, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India (SBI), Larsen & Toubro, and Hindustan Unilever saw their share prices increase notably by the week’s close.
SBI emerged as the top gainer with its market cap rising by ₹30,414.89 crore to reach ₹9,22,461.77 crore. Larsen & Toubro’s market value grew by ₹16,204.34 crore to ₹5,72,640.56 crore, while Hindustan Unilever’s market cap increased by ₹14,626.21 crore, standing at ₹5,51,637.04 crore.
HDFC Bank’s market capitalisation rose by ₹13,538.43 crore, reaching ₹15,40,303.87 crore. ICICI Bank’s market cap also expanded by ₹3,103.99 crore to ₹9,68,773.14 crore. Bharti Airtel’s market value edged up by ₹570.21 crore to ₹12,01,262.53 crore.
However, despite overall market strength, some companies faced declines in market cap. Tata Consultancy Services (TCS) saw a reduction of ₹10,745.72 crore, lowering its market value to ₹11,75,914.62 crore. Infosys’ market cap dropped by ₹6,183.25 crore to ₹6,81,635.59 crore, and Bajaj Finance fell by ₹5,693.58 crore to ₹6,16,430.43 crore.
Market experts identified immediate resistance levels for the Nifty at 26,400, 26,500, and 26,600, while support levels were placed at 26,200 and 26,100. The Bank Nifty closed at 60,150.95 points, marking a new record. Experts cautioned that if selling pressure increases and the index falls below 59,900, it could slide further to between 59,700 and 59,500. Resistance points on the upside are noted at 60,300, 60,500, and 60,700.
The weekly Relative Strength Index (RSI) stood at 69.31, indicating a continued upward momentum in the market.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several 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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