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Mint
3 hours ago
- Mint
Market capitalisation of top 10 valued companies plummets by ₹1.36 lakh crore, Reliance worst hit
A bearish drag on equities pulled the cumulative market capitalisation (m-cap) of the top 10 most valued companies in India sharply by ₹ 1.36 crore ( ₹ 1,36,151.24 crore) over the past week, with conglomerate Reliance Industries (RIL) taking the worst hit, according to a report by PTI. Extending losing streak for the sixth consecutive week, the BSE benchmark index, Sensex, dropped 742.12 points or 0.92 per cent, and the NSE Nifty declined 202.05 points or 0.82 per cent. Despite the valuation drop, RIL remains the most valued company in the country, followed by private sector lender HDFC Bank, IT company Tata Consultancy Services (TCS), telecom major Bharti Airtel, banking major ICICI Bank, public sector lending leader State Bank of India (SBI), IT giant Infosys, FMCG leader Hindustan Unilever (HUL), insurance behemoth Life Insurance Corporation of India (LIC), and financing major Bajaj Finance. From the top 10 pack, Reliance, HDFC Bank, Airtel, ICICI Bank, Infosys and HUL faced erosion in their valuations, the report added. RIL valuation tumbled ₹ 34,710.8 crore to ₹ 18,51,174.59 crore. 34,710.8 crore to 18,51,174.59 crore. HDFC Bank's mcap tanked ₹ 29,722.04 crore to ₹ 15,14,303.58 crore. 29,722.04 crore to 15,14,303.58 crore. The mcap of ICICI Bank fell by ₹ 24,719.45 crore to ₹ 10,25,495.69 crore. 24,719.45 crore to 10,25,495.69 crore. Infosys value dropped by ₹ 19,504.31 crore to ₹ 5,91,423.02 crore. 19,504.31 crore to 5,91,423.02 crore. The valuation of Bharti Airtel declined by ₹ 15,053.55 crore to ₹ 10,59,850.32 crore. 15,053.55 crore to 10,59,850.32 crore. HUL lost ₹ 5,87,021.88 crore to tumble to ₹ 12,441.09 crore. Meanwhile, among the top 10, TCS, SBI, LIC, and Bajaj Finance were the gainers. The mcap of LIC jumped ₹ 17,678.37 crore to ₹ 5,77,187.67 crore. 17,678.37 crore to 5,77,187.67 crore. The valuation of TCS climbed ₹ 11,360.8 crore to ₹ 10,97,908.66 crore. 11,360.8 crore to 10,97,908.66 crore. SBI added ₹ 9,784.46 crore, taking its valuation to ₹ 7,42,649.34 crore. 9,784.46 crore, taking its valuation to 7,42,649.34 crore. Bajaj Finance went up by ₹ 186.43 crore to ₹ 5,45,148.52 crore. (With inputs from PTI)
Time of India
4 hours ago
- Time of India
Weekly Market Outlook: Nifty shows bearish signals; stay defensive amid resistance near 25,650
The Nifty continued its corrective spell for the sixth straight week, a losing streak not seen in over five years, as the index drifted lower within a relatively narrow range. The week saw Nifty oscillate in a 398-point range between 24,736 on the higher side and 24,337 on the lower side, reflecting muted volatility and a lack of directional conviction. India VIX edged marginally higher by 0.48% to 12.03, indicating that sentiment remains calm despite the prolonged weakness. By the week's close, the index ended with a net loss of 202.05 points, or (-0.82%). Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cardiologist Reveals: The Simple Morning Habit for a Flatter Belly After 50! Lulutox We have a short week ahead, with Friday a trading holiday on account of Independence Day. The index structure remains weak in the near term. The recent peak near 25,650 marks a lower top, coinciding with a confluence of two important pattern resistances — one from a falling trendline drawn from earlier highs, and another from the upper boundary of a broad consolidation channel. This zone now acts as a strong supply area. The market is still trading beneath this resistance cluster, with a mild downward slope visible in short-term averages. Any meaningful upside would require a decisive breakout above this confluence; conversely, sustained trade below 24,200, which is the 50-week moving average, could accelerate the corrective leg. Live Events As we head into the new week, the Nifty is likely to see a soft or cautious start. Immediate resistance levels are placed at 24,500 and 24,850, while supports come in at 24,200 and 23,950. The weekly RSI stands at 49.50. It has formed a new 14-period low, which is bearish, but remains neutral without any divergence against price. The weekly MACD has shown a negative crossover; it is now bearish and trades below its signal line. Pattern analysis reveals that the Nifty is still respecting the downward-sloping resistance line from the previous top, which aligns with the lower-high formation near 25,650. The index is hovering below the 20-week moving average (24,496), and any violation of the 50-week average at 24,203 could invite deeper cuts, making the index incrementally weak from current levels. The inability to clear the confluence resistance despite multiple attempts highlights prevailing supply pressure. Given the current setup, traders should remain defensive in their approach. Fresh aggressive longs should be avoided until the index breaks above the 25,000–25,100 zone on strong volumes. Short-term players may adopt a highly selective, stock-specific approach with strict stop-losses to protect capital. For now, protecting gains and managing exposure prudently is the preferred strategy as the market continues to consolidate with a downward bias. (Milan Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
Economic Times
4 hours ago
- Economic Times
Two Trades for Today: A financial services stock for a 5.3% gain, a mid-cap fertilizer maker for almost 7% rise
It was a weak day for the markets on Friday. The recovery, which was fuelled by robust short-covering, did not sustain itself as the markets closed on a negative note. The Nifty opened on a modestly negative note; after a soft start, the markets remained under strong selling pressure throughout the day. At no point did the Index show any intention to recover, having formed its low point towards the end of the session. The headline Index closed FONT SIZE SAVE PRINT COMMENT
