Mumbai: Led by IT czar Infosys Technologies, the market capitalisation (m-cap) of seven of the country’s top 10 firms rose by Rs 10,906 crore last week.
The market worth of Infosys soared by Rs 4,374.18 crore to Rs 1,93,365.37 crore as on Friday’s trade on the Bombay Stock Exchange. Shares of the company surged 2.31% during the past week to settle at Rs 3,368.50.
Market observers opined that smart buying was seen in Infosys Technologies despite dullness in the broader market, in hopes of smart third quarter earnings.
Private telecom operator Bharti Airtel was the second biggest gainer and added Rs 1,879.77 crore to its m-cap which stood at Rs 1,32,343.57 crore at close on Friday last week.
The market valuation of corporate giant Reliance Industries too edged up by Rs 1,227.23 crore to Rs 3,46,749.39 crore.
Software major Tata Consultancy Services added just Rs 58.71 crore to its m-cap at Rs 2,23,257.8 crore. State-run NTPC added Rs 206.14 crore to take its valuation to Rs 1,63,218.88 crore.
Private-sector lender ICICI Bank’s m-cap swelled by Rs 1,697.38 crore to Rs 1,28,525.13 crore, while FMCG honcho ITC gained Rs 1,462.79 crore, taking its valuation to Rs 1,30,765.82 crore.
On the losers side, oil & gas behemoth ONGC bore the maximum brunt and saw an erosion of Rs 7,379 crore from its m-cap, which stood at Rs 2,76,898.11 crore.
Two of the state-run firms Coal India (CIL) and SBI were the other sufferers. The m-cap of CIL diminished by Rs 5,337.32 crore to Rs 1,97,354.67 crore, while SBI’s valuation declined to Rs 1,74,933.4 crore after it lost Rs 441.31 crore from its m-cap.
Meanwhile, during the previous week, the BSE 30-share barometer Sensex witnessed a mild gain of 1.05 per cent and had closed at 20,073.66 as on Friday.