The combined market valuation of five of the top-10 most valued firms jumped Rs 86,234.73 crore in a holiday-shortened last week, with Tata Consultancy Services (TCS) emerging as the biggest gainer. While TCS, HDFC Bank, Infosys, Hindustan Unilever and Bajaj Finance were the gainers, Reliance Industries, ICICI Bank, ITC, State Bank of India and Bharti Airtel emerged as the laggards. Last week, the BSE benchmark climbed 167.22 points or 0.25 per cent.
The market valuation of TCS rallied Rs 32,730.22 crore to Rs 13,24,649.78 crore, the most among the top-10 firms. Bajaj Finance added Rs 21,697.96 crore taking its valuation to Rs 4,94,884.37 crore.
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By Gaurav Arora
The April series Nifty futures is currently trading with a premium of around 70 points which was >150 at the start of the series.
For the Index futures, FII Net Index Long exposure is at 45% which is more or less stagnant since the start of Mar series.
After a good run-up, some profit taking or time-wise correction can’t be ruled out, however we believe Index may continue finding support around lower levels.
Nifty Rejig: Trent, BEL to replace Divi’s Lab, LTI Mindtree on Nifty from Sep 30 Markets see strong recovery in last hour! Nifty near 24,800, Sensex above 80,900 Are Nifty bulls ready to reclaim the 25,000 mark? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Will Nifty continue to s…
Shares of railway-related companies, including IRFC (Indian Railway Finance Corporation) and Rail Vikas Nigam Limited (RVNL), maintained their upward trajectory on Saturday, extending their record-breaking run. The stocks, witnessing remarkable gains ranging from 50% to 70%, have marked an exceptional performance in the month of January alone.
On Saturday, IRFC’s shares recorded another 9% increase, propelling its market capitalization to Rs 2.28 lakh crore. This places IRFC ahead of Power Grid and 21 other Nifty companies. Notably, the stock has demonstrated resilience by gaining in nine out of the last 10 trading sessions, escalating from Rs 99 to its current price of Rs 175.
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