The combined market capitalisation of the eight of the 10 most valued domestic firms added ₹1,81,209.89 crore last week. Additionally, Hindustan Unilever emerged as the biggest gainer. While the BSE benchmark Sensex advanced 1,573.91 points or 2.97% last week and from the top-10 pack, Reliance Industries and Tata Consultancy Services (TCS) were the only laggards.
Hindustan Unilever Ltd (HUL) made it as one of the top gainers adding ₹50,058.05 crore, taking its valuation to ₹5,86,422.74 crore, while ICICI Bank’s valuation jumped ₹35,956.8 crore to reach ₹5,25,656.96 crore. Among the other top gainers, the market valuation of HDFC Bank advanced ₹23,940.12 crore to ₹7,75,832.15 crore and that of Life Insurance Corporation of India (LIC) went up to ₹19,797.24 crore to ₹4,47,841.46 crore.
Interestingly, the market capitalisation of State Bank of India (SBI) witnessed a surge by ₹19,232.55 crore to ₹4,35,922.66 crore and Infosys jumped ₹15,126.4 crore to ₹6,37,033.78 crore. Bharti Airtel’s valuation moved up by ₹12,000.08 crore to ₹3,81,833.20 crore and that of HDFC climbed ₹5,098.65 crore to ₹4,06,213.61 crore.
On the other hand, the market capitalisation of TCS declined by ₹18,770.93 crore to ₹11,94,625.39 crore and the country’s largest software exporter TCS on Friday reported a 5.2% rise in June quarter net profit to ₹9,478 crore. The results were declared post market hours. The valuation of Reliance Industries went lower by ₹11,805.14 crore to ₹16,17,879.36 crore. Notably, among the ranking of top-10 firms, Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel.
Meanwhile, the soaring commodity prices across the Middle East ruined the festive sentiments in Tunisia, Lebanon, Palestine, Yemen, and other regional countries which started their Eid al-Adha celebrations on Saturday. Eid al-Adha, or the Feast of Sacrifice, is one of the most anticipated celebrations in the Islamic world. By tradition, families should ritually slaughter an animal, usually sheep or cow, during the four-day festival as long as they can afford it, as per reports.
However, the galloping global inflation in the fallout from the US rate rise and the Russia-Ukraine conflict is particularly felt in Middle Eastern countries, depriving many Muslims of Eid al-Adha preparations. In Tunisia, as the country’s inflation rockets to 8.1%, the highest since October 1991, households are feeling the squeeze, news agency ANI reported.
(With inputs from PTI, ANI)
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