Now Reading: SBI leads Rs 1.43 lakh crore gain in top-10 firm valuations
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SBI leads Rs 1.43 lakh crore gain in top-10 firm valuations
Four of India's top-10 most valued firms added a combined Rs 1.43 lakh crore to their market capitalisation last week, with State Bank of India the biggest winner. The BSE Sensex climbed…
The Story in Brief
Four of India's top-10 most valued firms added a combined Rs 1.43 lakh crore to their market capitalisation last week, with State Bank of India the biggest winner. The BSE Sensex climbed 404.53 points, or 0.51 per cent, and the Nifty advanced 187.05 points, or 0.76 per cent.
SBI's valuation jumped Rs 63,922.03 crore to Rs 10,11,721.84 crore. Reliance Industries added Rs 32,816.4 crore, TCS Rs 31,875.35 crore, and Larsen & Toubro Rs 14,637.76 crore. But LIC lost Rs 40,543.23 crore, Bajaj Finance Rs 37,168.96 crore, and HDFC Bank Rs 24,183.16 crore. The six losers together eroded Rs 1.23 lakh crore. Analysts cited the new closing auction framework and the RBI's monetary policy as market drivers.
The Indian Opinion
The weekly scoreboard flatters the bulls. Four large caps gained, but six others lost more in aggregate, and the headline indices barely moved. Investors who chase single-week market-cap swings as a trend will be misled. The real news is the new Closing Auction Session framework and the RBI decision, factors the reports cite but do not examine. Watch whether the loser list, led by LIC and Bajaj Finance, narrows next week. If it widens, the rally is not broad-based, whatever the Sensex says.
Sources (2): economictimes.indiatimes.com, timesofindia.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
