Market cap of 9 top firms surges ₹3.65 lakh crore, TCS leads gains
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- ✓The combined market valuation of nine of the top-10 most valued firms surged by ₹3.65 lakh crore last week.
- ✓TCS, Bharti Airtel, and Infosys led the gains amid a bullish trend in equities.
- ✓Ponmudi R said, "The rally was primarily driven by a sharp rebound in information technology stocks."
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
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.
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