In a week cut short by Mahavir Jayanti, the Indian stock market saw a mixed performance. Five of the country’s top 10 most-valued firms collectively added Rs 84,559 crore in market capitalisation, even as the benchmark indices closed lower.
Hindustan Unilever (HUL) stole the spotlight, recording a sharp gain of Rs 28,700 crore, pushing its market valuation to Rs 5.56 lakh crore. ITC followed with a healthy increase of over Rs 15,329 crore, taking its valuation to Rs 5.27 lakh crore.
Bajaj Finance, Bharti Airtel, and LIC rounded off the top gainers. Bharti Airtel’s market cap crossed Rs 10 lakh crore, with an Rs 8,011 crore jump, reflecting investor confidence despite broader market volatility.
“The rally in selective large-cap stocks points to defensive buying amid global uncertainty and geopolitical tensions,” said a senior market analyst.
Indices Show Weakness Despite Large-Cap Gains
However, the overall market remained subdued. The BSE Sensex slipped 207 points (0.27%), and the Nifty fell by 75.9 points (0.33%), indicating pressure from weak global cues and cautious investor sentiment.
The shortened trading week, with markets closed on Thursday, added to the restrained volumes and subdued momentum.
TCS, Infosys, SBI Lead the Decliners
Among the laggards, Tata Consultancy Services (TCS) lost over Rs 24,295 crore in market cap, closing at Rs 11.69 lakh crore. Infosys, another IT giant, saw its value erode by Rs 17,319 crore, possibly due to sectoral headwinds.
Banking majors also suffered. State Bank of India lost Rs 12,271 crore, ICICI Bank shed Rs 8,913 crore, and HDFC Bank dipped by Rs 7,958 crore during the week.
Context from Previous Week & FY25 Performance
In contrast, the week ending March 30 saw eight of the top 10 firms clock a combined Rs 88,085 crore rise, buoyed by a 509-point surge in the Sensex.
So far in FY25, both benchmarks are in the green, Sensex up 5.11%, Nifty up 5.34%, indicating a cautiously optimistic trend for Indian equities.
