Mcap of four of top 10 most-valued firms rise Rs 65,671 crore; Reliance biggest winner
The combined market valuation of four of the top-10 most-valued firms climbed Rs 65,671.35 crore last week, with Reliance Industries emerging as the biggest gainer. Last week, the BSE benchmark climbed 175.31 points, or 0.26 per cent. While Reliance Industries, HDFC Bank, ICICI Bank, and Bharti Airtel were the gainers, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC, State Bank of India, and Bajaj Finance faced erosion in valuation.
The market valuation of Reliance Industries jumped Rs 26,014.36 crore to reach Rs 16,19,907.39 crore. HDFC Bank added Rs 20,490.9 crore, taking its valuation to Rs 11,62,706.71 crore. The market valuation of Bharti Airtel rose Rs 14,135.21 crore to Rs 5,46,720.84 crore , while that of ICICI Bank gained Rs 5,030.88 crore to Rs 6,…
Rupee falls 3 paise to close at 83.23 against US dollar
The rupee depreciated 3 paise to settle at 83.23 (provisional) against the US dollar on Wednesday, as a muted trend in domestic equities and sustained foreign fund outflows weighed on investor sentiments.Forex traders said the strength of the American currency in the overseas market further dented investor sentiments.
At the interbank foreign exchange market, the local unit opened at 83.22 against the US dollar and moved in a range of 83.27 to 83.19.The rupee finally settled at 83.23 (provisional) against the US dollar, down 3 paise from its previous close.On Tuesday, the rupee had settled at 83.20 against the dollar.”The Indian rupee declined on weak domestic markets and further selling by FIIs. However, softening of US dollar cushioned the downside,” said Anuj …