Mumbai: Nine of India's 10 most valuable companies together added around Rs 3.65 lakh crore to their market capitalisation last week, supported by a strong recovery in the stock market. Tata Consultancy Services (TCS), Bharti Airtel and Infosys recorded the biggest gains, while Larsen & Toubro was the only company to lose market value.
Sensex, Nifty Record Strong Weekly Gains
Indian stock markets witnessed a sharp recovery during the week. The BSE Sensex jumped 2,256.94 points, or 3.11 percent, while the NSE Nifty gained 625.7 points, or 2.77 percent.
The rally was mainly driven by strong buying in information technology stocks following encouraging September quarter earnings.
Ponmudi R, CEO of Enrich Money, said the Sensex and Nifty recorded their strongest weekly performance in nearly six months, supported by renewed investor interest in heavyweight companies.
TCS Leads With Rs 1.08 Lakh Crore Gain
TCS emerged as the biggest winner, adding Rs 1,08,542.63 crore to its market valuation, taking its total market capitalisation to Rs 8,91,134.96 crore.
Bharti Airtel followed with a gain of Rs 61,406.53 crore, pushing its valuation to Rs 11,88,815.45 crore.
Infosys added Rs 55,893.05 crore, taking its market value to Rs 4,71,409.41 crore.
Reliance Industries also witnessed strong buying, with its valuation rising Rs 53,047.56 crore to Rs 16,37,437.19 crore.
Banking Stocks Also Gain
HDFC Bank's market capitalisation increased Rs 32,379.05 crore to Rs 11,22,628.07 crore, while ICICI Bank added Rs 30,769.95 crore to reach Rs 10,02,871.44 crore.
Bajaj Finance gained Rs 14,786.65 crore, while LIC and State Bank of India added Rs 4,933.5 crore and Rs 3,323.07 crore, respectively.
L&T Only Company To Lose Value
Larsen & Toubro was the only laggard among the top 10 companies. Its market valuation declined Rs 9,232.26 crore to Rs 4,99,725.06 crore.
Reliance Industries retained its position as India's most valuable company, followed by Bharti Airtel, HDFC Bank, ICICI Bank and TCS.
The weekly gains reflected improved investor sentiment, particularly towards IT and banking stocks, helping major companies recover market value.
