Market erases previous losses amid buying across sectors
At close, Sensex was up 592.93 points or 0.78% at 76,617.44, and the Nifty was up 166.65 points or 0.72% at 23,332.35.
Last week (April 27 to 31), the combined market valuation of eight of the top 10 most valued firms declined by Rs 2,08,207.93 crore.
Reliance Industries, TCS and Infosys took the biggest hit in the league.
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ITC, Life Insurance Corporation (LIC), Hindustan Unilever Ltd, Bharti Airtel and ICICI Bank were also the laggards.
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Among the top 10, HDFC Bank and State Bank of India (SBI) emerged as gainers.
The rank-wise mcap for the week was Reliance Industries remained the leader from the top-10 pack, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, LIC, Infosys, Hindustan Unilever, and ITC.
Reliance Industries plunged by Rs 67,792.23 crore to Rs 19,34,717.12 crore, while TCS mcap declined by Rs 65,577.84 crore to Rs 13,27,657.21 crore.
The M-cap of Infosys slumped by Rs 24,338.1 crore to Rs 5,83,860.28 crore, and that of ITC went lower by Rs 12,422.29 crore to Rs 5,32,036.41 crore.
LIC dropped by Rs 10,815.74 crore to Rs 6,40,532.52 crore, while HUL’s valuation eroded by Rs 9,680.31 crore to Rs 5,47,149.32 crore.
Bharti Airtel’s mcap fell by Rs 9,503.31 crore to Rs 7,78,335.40 crore, and that of ICICI Bank dipped by Rs 8,078.11 crore to Rs 7,87,229.71 crore.
On the winning side, the mcap of HDFC Bank climbed Rs 10,954.49 crore to Rs 11,64,083.85 crore. While the SBI added Rs 1,338.7 crore, taking the market valuation to Rs 7,40,832.04 crore.
As the exit polls predict a massive third-time victory for the BJP-led NDA government, the bulls are likely to start the week on an upbeat note.
The strong Q4 GDP numbers announced post-market hours on Friday, the benchmark Nifty appears set to hit a fresh all-time high shortly.
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