India's Ten Most-Valued Firms Gain Rs 3,894 Crore In Market Cap
The valuation of Infosys Ltd lose by Rs 36,746 crore to Rs 7.8 lakh crore. Hindustan Unilever Ltd lose Rs 5,063 crore in market capitalisation, taking the total to Rs 6.38 lakh crore.
Source: ICICI Logo
The country's top 10 most-valued firms together gained Rs 3,894 crore in market valuation on Friday, with ICICI Bank Ltd. and State Bank of India emerging as the biggest gainers. Reliance Industries Ltd. and HDFC Bank Ltd. were among the other gainers for the day.
ICICI Bank Ltd. gained Rs 23,426 crore, taking its market capitalisation to Rs 8.9 lakh crore, and State Bank of India gained Rs 8,334 crore in market capitalisation to Rs 7.32 lakh crore. Infosys Ltd. and Hindustan Unilever Ltd. were also among the losers.
The NSE Nifty 50 and BSE Sensex snapped a three-session losing streak on Friday, tracking a rise in the shares of ICICI Bank Ltd. and Axis Bank Ltd.
The Nifty 50 ended 104.20 points, or 0.42%, higher at 24,854.05, and the Sensex ended 218.14 points, or 0.27%, higher at 81,224.75. During the day, the Nifty 50 declined as much as 0.74% to 24,567.65, and the Sensex fell 0.74% to 80,409.25.
The stock markets reversed the three-day fall as investors resorted to value buying in banking, metals, and real estate stocks, which had seen a sharp downfall in recent sessions. Geopolitical uncertainty, sluggishness in the Chinese economy, and persistent outflows of foreign institutional investors from the domestic markets have led to caution, according to Prashanth Tapse, senior vice president of research at Mehta Equities Ltd.
The valuation of HDFC Bank rose by Rs 6,636 crore to Rs 12.83 lakh crore. Tata Consultancy Services added Rs 5,083 crore in market capitalisation to Rs 14.91 lakh crore. Bharti Airtel Ltd. and Reliance Industries also reported gains in market valuation on Friday.
The valuation of Infosys Ltd fell Rs 36,746 crore to Rs 7.8 lakh crore. Hindustan Unilever Ltd. lost Rs 5,063 crore in market capitalisation to Rs 6.38 lakh crore. ITC Ltd. and HCL Tech also lost their market valuation on Friday.
RIL remained the most-valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever Ltd., ITC and HCL Technologies Ltd.
