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Six top firms add Rs 1 lakh crore in market value
Moneycontrol··5 Jul
Six of India's top ten companies gained a combined Rs 1 lakh crore in market capitalisation last week as the Sensex rose 663 points and the Nifty added 215 points. Bharti Airtel gained Rs 36,529 crore, the most among peers. Bajaj Finance added Rs 33,060 crore. Reliance Industries and SBI saw declines in valuation.
Prism
What It Means For You
- Mutual fund and demat investors holding Airtel or Bajaj Finance saw the largest valuation gains among India's most tracked companies last week.
- A 0.86 percent Sensex rise signals modest broad-market strength supported by GST collections and softer US labour data.
- Declines at Reliance, SBI, TCS and Larsen and Toubro show gains were concentrated rather than uniform across the top ten.
What's Happening
- Six of India's ten most valued firms added Rs 1 lakh crore in market cap in the week ending July 5.
- Bharti Airtel's valuation rose Rs 36,529 crore to Rs 11.63 lakh crore; Bajaj Finance gained Rs 33,060 crore.
- Reliance Industries shed Rs 18,946 crore and Larsen and Toubro lost Rs 26,572 crore in the same period.
Winners Within the Index
- Reliance Industries remained India's most valued company, followed by HDFC Bank, Bharti Airtel, ICICI Bank and SBI.
- Analysts cited resilient domestic macro indicators, healthy GST collections and expectations of accommodative global monetary policy.
- ICICI Bank, LIC and Hindustan Unilever also posted mcap gains while TCS dipped marginally by Rs 1,031 crore.
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