Four top-valued firms add Rs 81,151.31 crore in combined market valuation; HDFC Bank, ICICI biggest gainers

Four of the top-10 most-valued firms together added Rs 81,151.31 crore in market valuation last week, with ICICI Bank and HDFC Bank emerging as the biggest gainers. 

Last week, the BSE benchmark declined 156.61 points, or 0.19 per cent. 

Indian equity benchmarks on October 18 staged a rebound, pausing their three-day losing run. The uptick was backed by banks and some IT pockets due to strong quarterly results. The 30-share BSE Sensex pack climbed more than 250 points to trade above 81,280 level, while the broader NSE Nifty index moved over 100 points to top 24,850.   

While HDFC Bank, Bharti Airtel, ICICI Bank and the State Bank of India were the gainers, Reliance Industries (RIL), Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC and Life Insurance Corporation of India (LIC) suffered a combined erosion of Rs 76,622.05 crore from their market valuation. 

Among the gainers, the country’s largest private sector lender, HDFC Bank, saw its valuation jump by Rs 23,579.11 crore to Rs 12,82,848.30 crore. Its peer, ICICI Bank, also added Rs 28,495.14 crore taking its market valuation to Rs 8,90,191.38 crore. 

The country’s largest public sector lender, State Bank of India, saw its valuation climb by Rs 17,804.61 crore to Rs 7,31,773.56 crore. 

Bharti Airtel, the country’s second-largest telecom player, gained Rs 11,272.45 crore in its overall valuation of Rs 9,71,707.61 crore. 

On the other hand, the market capitalisation (mcap) of IT bellwether Infosys dived by Rs 23,314.31 crore to Rs 7,80,126.10 crore. 

The valuation of oil-to-telecom conglomerate Reliance Industries (RIL) declined Rs 16,645.39 crore to Rs 18,38,721.14 crore. 

The mcap of FMCG major Hindustan Unilever (HUL) tumbled Rs 15,248.85 crore to Rs 6,38,066.75 crore.  

TCS, the country’s largest IT comapny, saw its valuation diminish by Rs 10,402.01 crore to Rs 14,91,321.40 crore. 

The country’s largest insurer, LIC, saw its valuation went down by Rs 8,760.12 crore to Rs 5,91,418.91 crore. 

The mcap of ITC dipped Rs 2,251.37 crore to Rs 6,08,682.29 crore. 

 Reliance Industries continued to remain the most-valued domestic firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.