69080In view of reduced inflation and expenses, will it be right to invest in IT stocks?

Eight of the 10 most valued companies added a total Rs 1,60,408.24 crore to their market valuation last week, with index majors Tata Consultancy Services (TCS) and Reliance Industries (RIL) contributing the most.

On Friday, Sensex hit its lifetime high of 55,487.79, closing above the 55,000-mark for the first time ever. During the last week, the 30-share BSE index jumped 1,159.57 points or 2.13%.

The m-cap of TCS jumped Rs 56,133.1 crore to reach Rs 12,80,574.59 crore, becoming the top gainer among the most valued companies.

Mukesh Ambani-led RIL’s market valuation jumped by Rs 35,310.7 crore to Rs 13,59,652.06 crore.

The market capitalisation of Infosys advanced by Rs 23,521.63 crore during the week to Rs 7,26,419.85 crore, while that of HDFC Bank surged to Rs 8,43,703.53 crore, up Rs 17,370.86 crore.

India’s top mortgage lende HDFC added Rs 13,304.96 crore to Rs 4,88,217.12 crore and the m-cap of FMCG major Hindustan Unilever Limited surged by Rs 7,671.41 crore to Rs 5,64,782.42 crore.

ICICI Bank’s valuation climbed Rs 5,321.09 crore to Rs 4,88,352.01 crore and that of Kotak Mahindra Bank jumped Rs 1,774.49 crore to Rs 3,54,482.60 crore.

From the list of top-10 most valued firms, India’s largest lender State Bank of India and Bajaj Finance were the only laggards. The m-cap of Bajaj Finance dipped Rs 4,288.54 crore to Rs 3,71,340.29 crore and that of State Bank declined Rs 3,837.58 crore to Rs 3,84,963.12 crore.

RIL lead the chart of top-10 most valued companies followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, HDFC, SBI, Bajaj Finance and Kotak Mahindra Bank.