The combined market valuation of seven of the 10 most valuable firms rose 1,01,043.69 crore last week, PTI reported.

Last week, RIL’s market cap jumped at 37,581.61 crore to stand at 16,46,182.66 crore as on October 7, while the market cap of Tata Group-backed TCS rose by 22,082.37 crore — taking the total to 11,21,480.95 crore.

Billionaire Mukesh Ambani-backed RIL retained its leading position as the most valuable company in terms of market share. TCS currently has a second location.

In addition, the market cap of Infosys went up 16,263.25 crore last week to 6,10,871.36 crore, while ICICI Bank continued to increase 13,433.27 crore to 6,14,589.87 crore valuation as on 7 October. Moreover, the few HDFCs recorded upside in their valuation with NBFC giant HDFC recording upside. 6,733.19 crore in market cap to 4,22,810.22 crore while the largest private banker HDFC Bank’s market cap is gradually rising 4,623.07 crore to stand at 7,96,894.04 crore.

Finally, the market cap of Bajaj Finance also came up 326.93 crore come to him 4,44,563.66 crore.

On the other hand, among companies whose market cap declined, FMCG giant Hindustan Unilever (HUL) was the biggest loser. HUL’s market cap declined 23,025.99 crore to 6,10,623.53 crore.

Meanwhile, the valuation of Bharti Airtel and State Bank of India (SBI) declined. 3,532.65 crore and 624.73 crore to stand at 4,41,386.80 crore and 4,73,316.78 crore respectively.

In the list of 10 most valuable companies, RIL takes the top spot followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, SBI, Bajaj Finance, Bharti Airtel, and HDFC.

Together, these top 10 companies have a market cap 71,82,719.87 as on 7th October.

Investors’ wealth almost increased 3,76,944.94 crore last week as the market cap of all BSE-listed firms jumped to 2,75,61,546.77 crore as on October 7, compared to the market cap 2,71,84,601.83 crore as on September 30, 2022.

On Friday, Sensex ended at 58,191.29 down 30.81 points or 0.05%. Nifty 50 closed at 17,314.65 lower by 17.15 points or 0.1%.

Between October 3 and 7, markets had just four trading days. The markets were closed on October 5 due to the Dussehra festival.

Regarding last week’s market performance, Shrikant Chouhan, Head of Equity Research (Retail), at Kotak Securities, said, “All major sectors were positive compared to last week, with metals, realty, and capital goods as the top gainers. Within the Nifty Index, ONGC (+5%), Coal India (+7.6%), and JSW Steel (+4.9%) gained the most, while Eicher Motors (-5%), Adani Enterprises ( -5.8%) and Hindustan Unilever ( On the economic side, (1) GST collections for August (collected in September) stood at Rs1,477 billion (July: Rs1,436 billion) (2) exports were September under contract at 3.5% yoy, and (3) September imports increased 5.4% yoy. FPIs were net sellers over the past five trading sessions, while DIIs were net buyers over the same period.”

Also, Vinod Nair, Head of Research at Geojit Financial Services said, “Prior to the release of US jobs data, the domestic market traded with cuts in line with its global counterparts. Stronger jobs data could lead to market than expected. decline as it could give the Fed more reasons to target inflation. Following the OPEC+ announcement of supply cuts, crude prices continue to rise, and the rupee has fallen to lows as a result on hawkish statements from Fed officials.”

Markets are expected to be volatile going forward as macroeconomic conditions are tracked as investors prepare for the second quarterly earnings season.

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