Mumbai: Breaking its six-week long losing trend, country’s top 10 club added over Rs20,000 crore to the combined market valuation in the past week, even as Reliance Industries and Infosys suffered losses.
The top 10 companies together gained Rs23,273 crore in market cap last week, while country’s most valued firm Reliance Industries alone lost Rs24,063 crore from its valuation.
Also IT bellwether Infosys’ valuation declined to Rs6,371 crore in the past week.
At the end of Friday’s trade, the total market value of the 10 most valued firms, comprising six from public sector and four private sector entities, stood at Rs10,15,150 crore, up from Rs9,91,877 crore a week ago.
Mukesh Ambani-led RIL saw its market value plummeting by Rs24,063 crore in the past week to Rs1,91,664 crore.
During the week, the shares of RIL witnessed a slump of over 15%, which brought its valuation down from the crucial Rs two-trillion mark. However, it retained its numero uno position.
Meanwhile, Bharti Airtel slipped one place to the fourth position in top 10 club, whose gain of Rs189 crore in market cap was offset by state-run NTPC’s gain ofRs 8,781 crore.
Country’s largest lender SBI grabbed the fifth spot, overtaking Infosys which suffered a decline in its mcap. Also state-run ONGC showed the highest gain of Rs15,357 crore, followed by SBI’s (Rs8,872 crore) and NTPC (Rs8,781 crore).