In a week marked by steady gains in Indian equities, four companies from the elite top 10 by market value collectively added ₹2.20 lakh crore to their capitalization. The rally, spanning April 27-30, was fueled by positive sentiment across key sectors, even as others faced headwinds.
The Sensex rose 0.33% to 76,913.50, gaining 249.29 points, and Nifty ended 0.42% higher at 23,997.55, up 99.60 points. Trading halted on May 1 due to a public holiday, but the momentum was unmistakable.
Telecom major Bharti Airtel’s market cap soared by ₹43,503.51 crore to ₹11,49,222.13 crore, driven by strong subscriber growth and 5G rollout expectations. IT bellwether TCS added ₹27,569.83 crore, reaching ₹8,94,933.95 crore, buoyed by deal wins. Bajaj Finance’s cap expanded ₹9,432.32 crore to ₹5,83,123.13 crore, reflecting consumer lending resilience.
Contrasting losses hit banking peers: ICICI Bank shed ₹45,364.62 crore to ₹9,04,980.78 crore amid profit-taking. SBI’s value dropped ₹30,922.57 crore to ₹9,85,829.96 crore, HDFC Bank lost ₹20,951.31 crore to ₹11,87,274.17 crore. FMCG leader HUL declined ₹18,420.79 crore to ₹5,28,799.01 crore, LIC fell ₹8,222.49 crore to ₹5,04,798.07 crore, and L&T slipped ₹178.83 crore to ₹5,51,993.05 crore.
Reliance Industries held firm at number one, with HDFC Bank, Airtel, SBI, ICICI Bank, TCS, Bajaj Finance, L&T, HUL, and LIC rounding out the top 10. The pecking order remains stable, dominated by diversified conglomerates.
Analysts eye Nifty’s weekly outlook: resistance at 24,300-24,400 persists as a supply barrier, while 23,800 offers support. A downside break could test 23,600-23,400. With FII inflows and corporate earnings in focus, the market’s direction hinges on macroeconomic data.
This mixed bag illustrates sector rotation at play. While tech and telecom shine, banks grapple with rate hike pressures. Long-term investors see value in the dips, positioning for India’s growth story.
