News

Published: Feb 20, 2023
Updated: Feb 20, 2023

Five of Top-10 Most Valued Firms Gain in Market Capitalisation

Last week, five of the top 10 valued firms in India witnessed a surge in their market valuation, contributing to a total increase of Rs 95,337.95 crore. Reliance Industries, ICICI Bank, HDFC, ITC, and Bharti Airtel were the top gainers, whereas TCS, HDFC Bank, Infosys, Hindustan Unilever, and State Bank of India saw a decline in their market capitalisation.

Reliance Industries Takes the Lead

Reliance Industries, one of the most valuable companies in India, contributed the most to the surge in market valuation. It witnessed a rally of Rs 70,023.18 crore to reach a total market valuation of Rs 16,50,677.12 crore.

Gainers and Losers in the Top-10 Pack

Among the gainers, ITC's market capitalisation increased by Rs 14,834.74 crore, while ICICI Bank's valuation climbed by Rs 6,034.51 crore. Bharti Airtel advanced by Rs 3,288.43 crore, and HDFC's market capitalisation gained Rs 1,157.09 crore.

Among the laggards, the valuation of State Bank of India and Infosys declined by Rs 19,678.77 crore and Rs 10,309.8 crore, respectively. Hindustan Unilever saw a decline of Rs 14,825.92 crore, while the market valuation of TCS dipped by Rs 13,099.41 crore, and HDFC Bank declined by Rs 14.3 crore.

Global Cues and Market Trends Continue to Guide Equities

As the third quarter earnings calendar comes to an end and with no major domestic trigger in sight, investors are likely to focus on global trends and foreign fund movement in the equity market. The markets may experience volatile trends during derivatives expiry this week. Additionally, the movement of Brent crude oil and the trend in the rupee would be in focus. With the lack of major triggers in the domestic market, investors will continue to look towards global cues to guide the market's trend.

Volatility expected during Derivatives Expiry

Reliance Industries' market capitalisation continues to remain on top of the chart, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, HDFC, ITC, State Bank of India, and Bharti Airtel. The market's volatile trends during derivatives expiry will be closely watched, along with the movement of Brent crude oil and the rupee. Investors will be keenly following global trends and foreign fund movement to guide their investment decisions.