7 of top 10 firms add Rs 1.55 lakh crore in market value

Mumbai, Oct 26 (IANS) The combined market valuation of seven of India’s top 10 most-valued companies rose by Rs 1,55,710.74 crore in the holiday-shortened week, supported by a positive trend in domestic equities.

Tata Consultancy Services (TCS) and Bharti Airtel were among the biggest gainers, according to the official data.

During the week, the benchmark Sensex gained 259.69 points, or 0.30 per cent. On Thursday, the 30-share index touched a 52-week high of 85,290.06.

Among the top-10 companies, Bharti Airtel, TCS, State Bank of India (SBI), Bajaj Finance, Infosys, and Life Insurance Corporation of India (LIC) saw an increase in their market capitalisation, while HDFC Bank, ICICI Bank, and Hindustan Unilever Limited (HUL) witnessed declines.

The market value of TCS jumped by Rs 36,126.6 crore to Rs 11,08,021.21 crore, while Infosys added Rs 34,938.51 crore, taking its valuation to Rs 6,33,712.38 crore.

SBI’s market capitalisation climbed by Rs 13,892.07 crore to Rs 8,34,817.05 crore, and Bajaj Finance’s valuation rose by Rs 11,947.17 crore to Rs 6,77,846.36 crore.

Bharti Airtel’s mcap increased by Rs 9,779.11 crore to Rs 11,57,014.19 crore, while LIC’s valuation went up by Rs 2,340.25 crore to Rs 5,62,513.67 crore.

On the other hand, ICICI Bank’s market value fell by Rs 43,744.59 crore to Rs 9,82,746.76 crore.

HUL’s valuation declined by Rs 20,523.68 crore to Rs 5,91,486.10 crore, and HDFC Bank’s mcap dropped by Rs 11,983.68 crore to Rs 15,28,227.10 crore.

Bharti Airtel remained among the most valued firms, followed by HDFC Bank, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, Hindustan Unilever, and LIC.

Commenting on the market outlook, analysts said that the Nifty continues to trade above its 20-day, 50-day, and 200-day EMAs, highlighting a strong underlying bullish structure and sustained trend strength.

“On the weekly timeframe, the RSI stands at 61.60 and is trending sideways, indicating a neutral-to-positive bias with potential for renewed momentum once consolidation ends,” experts said.

“On the downside, a decisive break down below 25,670 could accelerate weakness towards 25,500, and further down to 25,400,’ they added.

Market experts said on the upside, immediate resistance is seen at 25,950, followed by 26,000 and 26,100.

“A sustained move above these levels would confirm the continuation of the bullish trend, while failure to cross them may keep the short-term trend range-bound,” experts mentioned.

--IANS

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