New Delhi: Indian stock markets witnessed a positive trend last week with the combined market value of 6 of the top 10 most valuable companies increasing by ₹2,03,116.81 crore. This increase was driven by the BSE Sensex gaining 1,906.33 points (2.38 percent) and the NSE Nifty 50 gaining 546.7 points (2.26 percent). Tata Consultancy Services (TCS) and HDFC Bank were the biggest gainers, leading to a significant jump in the value of these companies.

Top Companies

TCS was the biggest gainer, with its market value rising by ₹62,574.82 crore to ₹16,08,782.61 crore. HDFC Bank added ₹45,338.17 crore to take its value to ₹14,19,270.28 crore. Reliance Industries added ₹26,185.14 crore to its value of ₹17,75,176.68 crore and remained India's most valuable company.

Infosys also saw its total value rise by ₹26,885.8 crore to ₹7,98,560.13 crore. State Bank of India (SBI) gained ₹22,311.55 crore to reach a market cap of ₹7,71,087.17 crore while ICICI Bank's value rose ₹19,821.33 crore to ₹9,37,545.57 crore.

Not all companies performed positively. Bharti Airtel's value fell ₹16,720.1 crore to ₹9,10,005.80 crore. ITC's value fell ₹7,256.27 crore to ₹5,89,572.01 crore. Besides, Hindustan Unilever and LIC saw a marginal decline in their value, falling ₹2,843.01 crore and ₹1,265 crore, respectively.

Who is on top right now?

Reliance Industries still remains India's largest company by market cap, followed by TCS, HDFC Bank, ICICI Bank, and Bharti Airtel. The rest of the top 10 companies include Infosys, SBI, LIC, ITC, and Hindustan Unilever.

stock market direction

On Friday, the BSE Sensex witnessed a marginal decline, closing 0.07% lower at 81,709.12, while the NSE Nifty 50 fell 0.12% to end at 24,677.8. The decline came after the Reserve Bank of India's (RBI) decision to cut the cash reserve ratio (CRR) to improve cash flow. However, interest rates were kept unchanged. Apart from this, the Indian rupee recorded a marginal gain of 0.05% and closed at 84.6875 per dollar. The rupee's gain was supported by a weak dollar and RBI's decision to cut CRR.

Market Trends for the Coming Week

The direction of the Indian stock market in the coming week will depend on US payrolls and US CPI inflation data which will provide indications related to the December meeting of the US Federal Reserve. According to Amol Athawale, technical analyst at Kotak Securities, Nifty 50 may see some range-bound activity due to overbought conditions. He believes that the important support levels for Nifty 50 are 24,500 and 81,200, while the resistance level will be between 24,900 and 82,200. Along with this, the level of 52,500 will be important for Bank Nifty and if this level is maintained, the uptrend will continue.