Last week, the BSE benchmark climbed 319.87 points or 0.52 per cent. On Friday, the 30-share BSE Sensex declined by 316.94 points or 0.52 per cent to settle at 61,002.57 as 22 of its constituents ended in red.
“Higher US inflation data and lower jobless claim data led to hawkish commentaries by some of the US Fed officials which dented sentiments and led to the renewed fear of aggressive rate hikes in the subsequent meets to combat sticky inflation,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.
While RIL, ICICI Bank, HDFC, ITC and Bharti Airtel were the gainers from the top-10 pack, Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever and State Bank of India were the laggards.
“On the domestic front, even the corporate earnings growth for 3QFY23 moderated led by weak demand environment and inflation led margin pressure,” Khemka added.
RIL’s market valuation rallied ₹70,023.18 crore to ₹16,50,677.12 crore.
ITC’s mcap or market capitalisation surged ₹14,834.74 crore to ₹4,75,767.12 crore.
The valuation of ICICI Bank jumped ₹6,034.51 crore to ₹6,01,920.14 crore and that of Bharti Airtel climbed ₹3,288.43 crore to ₹4,32,763.25 crore.
HDFC’s mcap gained ₹1,157.09 crore to ₹4,92,237.09 crore.
However, State Bank of India’s valuation eroded by ₹19,678.77 crore to ₹4,73,807.64 crore.
The mcap of Hindustan Unilever plunged ₹14,825.92 crore to ₹5,90,933.95 crore and that of Tata Consultancy Services tanked ₹13,099.41 crore to ₹12,80,539.91 crore.
The valuation of Infosys tumbled by ₹10,309.8 crore to ₹6,66,328.56 crore and that of HDFC Bank fell ₹14.3 crore to ₹9,23,919.15 crore.
RIL continued to rule the chart of the most valued firms followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, HDFC, ITC, State Bank of India and Bharti Airtel.