Mumbai, Dec 21 (IANS) The combined market value of six of the top-10 most-valued companies rose by Rs 75,256.97 crore last week, even as the broader stock market remained under pressure.
Tata Consultancy Services and Infosys emerged as the biggest gainers during the week.
The benchmark Sensex fell 338.3 points, or 0.39 per cent, during the week -- reflecting cautious sentiment among investors.
Among the major gainers, Tata Consultancy Services saw its market valuation rise by Rs 22,594.96 crore to Rs 11,87,673.41 crore.
Infosys also posted strong gains, with its valuation increasing by Rs 16,971.64 crore to Rs 6,81,192.22 crore.
The market capitalisation of State Bank of India climbed by Rs 15,922.81 crore to Rs 9,04,738.98 crore.
Bharti Airtel added Rs 7,384.23 crore to its valuation, which stood at Rs 11,95,332.34 crore at the end of the week.
Larsen & Toubro also ended higher, though marginally, with its market value rising by Rs 68.78 crore to Rs 5,60,439.16 crore.
On the other hand, several financial stocks faced losses in their market value.
HDFC Bank saw the biggest erosion, with its market capitalisation falling by Rs 21,920.08 crore to Rs 15,16,638.63 crore.
The valuation of Life Insurance Corporation of India declined by Rs 9,614 crore to Rs 5,39,206.05 crore.
ICICI Bank also witnessed a drop in its market value, which fell by Rs 8,427.61 crore to Rs 9,68,240.54 crore.
Similarly, Bajaj Finance saw its valuation dip by Rs 5,880.25 crore to Rs 6,27,226.44 crore.
At the end of the week, HDFC Bank remained among the most-valued company among the group mentioned, followed by Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.
Commenting on Nifty technical outlook, experts said that “on the upside, immediate resistance is placed at 26,000, followed by 26,200 and 26,400.”
“On the downside, support is seen at 25,900 and then 25,800, with a break below 25,700 likely to attract additional selling pressure,” market watchers mentioned.
--IANS
pk
