10 Jul , 2022 By : Kanchan Joshi
The combined market capitalisation of the eight of the 10 most valued domestic firms added Rs1,81,209.89 crore last week. Additionally, Hindustan Unilever emerged as the biggest gainer. While the BSE benchmark Sensex advanced 1,573.91 points or 2.97% last week and from the top-10 pack, Reliance Industries and Tata Consultancy Services (TCS) were the only laggards.
Hindustan Unilever Ltd (HUL) made it as one of the top gainers adding Rs50,058.05 crore, taking its valuation to Rs5,86,422.74 crore, while ICICI Bank's valuation jumped Rs35,956.8 crore to reach Rs5,25,656.96 crore. Among the other top gainers, the market valuation of HDFC Bank advanced Rs23,940.12 crore to Rs7,75,832.15 crore and that of Life Insurance Corporation of India (LIC) went up to Rs19,797.24 crore to Rs4,47,841.46 crore.
Interestingly, the market capitalisation of State Bank of India (SBI) witnessed a surge by Rs19,232.55 crore to Rs4,35,922.66 crore and Infosys jumped Rs15,126.4 crore to Rs6,37,033.78 crore. Bharti Airtel's valuation moved up by Rs12,000.08 crore to Rs3,81,833.20 crore and that of HDFC climbed Rs5,098.65 crore to Rs4,06,213.61 crore.
On the other hand, the market capitalisation of TCS declined by Rs18,770.93 crore to Rs11,94,625.39 crore and the country's largest software exporter TCS on Friday reported a 5.2% rise in June quarter net profit to Rs9,478 crore. The results were declared post market hours. The valuation of Reliance Industries went lower by Rs11,805.14 crore to Rs16,17,879.36 crore. Notably, among the ranking of top-10 firms, Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel.
Meanwhile, the soaring commodity prices across the Middle East ruined the festive sentiments in Tunisia, Lebanon, Palestine, Yemen, and other regional countries which started their Eid al-Adha celebrations on Saturday. Eid al-Adha, or the Feast of Sacrifice, is one of the most anticipated celebrations in the Islamic world. By tradition, families should ritually slaughter an animal, usually sheep or cow, during the four-day festival as long as they can afford it, as per reports.
However, the galloping global inflation in the fallout from the US rate rise and the Russia-Ukraine conflict is particularly felt in Middle Eastern countries, depriving many Muslims of Eid al-Adha preparations. In Tunisia, as the country's inflation rockets to 8.1%, the highest since October 1991, households are feeling the squeeze, news agency ANI reported.
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