State Bank of India and Life Insurance Corporation of India, the only two Public Sector Undertakings (PSUs) in the Top 10 domestic companies, saw their market valuation eroding last week as the election results failed to live up to the expectations created by the exit polls.
The valuation of LIC plunged to Rs 6.28 lakh crore after sliding by Rs 12,080.75 crore while SBI tumbled Rs 178.5 crore to Rs 7.4 lakh crore.
The remaining eight of the 10 most valued Indian firms added Rs 3.28 lakh crore to their market capitalisation last week. Of these, the biggest gainers were Tata Consultancy Services (TCS), Hindustan Unilever Limited (HUL) and Reliance Industries.
TCS, the largest gainer, saw its market capital soared to Rs 14.08 lakh crore after climbing Rs 80,828.08 crore. Hindustan Unilever surged by Rs 58,258.11 crore, touching an mcap of Rs 6.05 lakh core.
The market cap of Reliance Industries leaped Rs 54,024.35 crore to Rs 19.88 lakh crore while Infosys added Rs 52,770.59 crore, taking its valuation to Rs 6.36 lakh crore.
The valuation of HDFC Bank jumped to Rs 11.96 lakh crore after zooming Rs 32,241.67 crore while Bharti Airtel hiked by Rs 32,080.61 crore to reach a market capital of Rs 8.1 lakh crore.
ITC rallied Rs 16,167.71 crore to Rs 5.48 lakh crore and ICICI Bank bounced by Rs 1,745.46 crore to Rs 7.88 lakh crore.
In terms of market capitalisation, Reliance maintained its position as the most valued domestic firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
In a week that saw several market moving factors including exit polls, election results, GDP data and RBI policy decision, the BSE Sensex basket, consisting of 30 topmost bluechip companies, went up by 3.69 per cent while NSE Nifty rose by 3.37 per cent. Sensex touched a lifetime high of 76,795.31 points in intra-day trade on Friday while the Nifty reached its all-time peak of 23,320.20 points during the day.
