The combined market valuation of seven out of the top 10 valued companies surged by ₹1,40,863.66 crore in the past week, driven by a strong rally on Friday. The benchmark Sensex gained nearly 1%, reversing losses and ending a two-week losing streak.
Tata Consultancy Services (TCS) and Infosys led the gains, with their market capitalization rising by ₹67,477.33 crore and ₹36,746.21 crore, respectively. Bharti Airtel, ICICI Bank, ITC, and Reliance Industries also saw significant increases in their valuations.
However, Life Insurance Corporation of India (LIC) and HDFC Bank saw their market capitalization drop by ₹47,943.48 crore and ₹13,064 crore, respectively.
The Nifty 50 advanced 0.71%, while the Sensex gained 0.91%, closing at 24,541.15 and 80,436.84, respectively. The IT sector saw significant gains, followed by realty and auto, while energy and metal sectors ended in the red.
The broader indices also recovered losses, with the midcap index gaining nearly 1% and the smallcap index finishing almost flat. This surge in valuations and indices suggests a positive trend on Dalal Street, with investors regaining confidence in the market.
