The combined market valuation of nine of the top-10 most valued firms surged by ₹3.65 lakh crore last week, with TCS, Bharti Airtel and Infosys emerging as the biggest winners, amid a bullish trend in equities.
Last week, the BSE benchmark Sensex surged 2,256.94 points, or 3.11 per cent, and the NSE Nifty jumped 625.7 points, or 2.77 per cent.
“Indian equity markets extended their recovery during the week, with the Nifty-50 and Sensex recording their strongest weekly performance in approximately six months. The Nifty-50 advanced around 2.8 per cent, while the Sensex gained approximately 3.1 per cent.
“The rally was primarily driven by a sharp rebound in information technology stocks following encouraging September quarter earnings, supported by renewed buying interest in several heavyweight stocks,” Ponmudi R, CEO – Enrich Money, an online trading and wealth tech firm, said.
While , Bharti Airtel, HDFC Bank, ICICI Bank, Tata Consultancy Services (TCS), State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC) and Infosys were the gainers, Larsen & Toubro emerged as the only laggard.
The market valuation of surged ₹1,08,542.63 crore to ₹8,91,134.96 crore, the most among the top-10 firms.
l added ₹61,406.53 crore, taking its valuation to ₹11,88,815.45 crore.
The valuation of jumped ₹55,893.05 crore to ₹4,71,409.41 crore, and that of Reliance Industries zoomed ₹53,047.56 crore to ₹16,37,437.19 crore.
The market capitalisation (mcap) of rallied ₹32,379.05 crore to ₹11,22,628.07 crore, and that of ICICI Bank soared ₹30,769.95 crore to ₹10,02,871.44 crore.
valuation edged higher by ₹14,786.65 crore to ₹6,11,326.72 crore, and that of went up by ₹4,933.5 crore to ₹5,02,204.82 crore.
The mcap of advanced ₹3,323.07 crore to ₹8,87,722.84 crore.
However, the mcap of Larsen & Toubro declined by ₹9,232.26 crore to ₹4,99,725.06 crore.
Reliance Industries remained the most valued domestic firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, TCS, State Bank of India, Bajaj Finance, LIC, Larsen & Toubro and Infosys.