The combined market capitalization of nine of India's top-10 most valued companies surged by ₹3.65 lakh crore last week, with Tata Consultancy Services (TCS), Bharti Airtel, and Infosys leading the gains, according to thehindubusinessline.com. TCS's market valuation alone rose by ₹1,08,542.63 crore to ₹8,91,134.96 crore amid a bullish trend in equities.
The rally coincided with a sharp rebound in information technology stocks following encouraging September quarter earnings. The BSE Sensex jumped 2,256.94 points, or 3.11%, while the NSE Nifty advanced 625.7 points, or 2.77%, marking their strongest weekly performance in about six months. Ponmudi R, CEO of Enrich Money, attributed the gains to renewed buying interest in heavyweight stocks and robust IT sector results.
The surge in market valuation reflects a broader recovery in Indian equity markets, with the Nifty-50 and Sensex recording significant weekly gains. Besides TCS, other major gainers included Reliance Industries, Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India, and Infosys. Larsen & Toubro was the only firm among the top 10 to see a decline in market value during the week.
TCS remains the sixth most valued domestic firm, behind Reliance Industries, Bharti Airtel, HDFC Bank, ICICI Bank, and State Bank of India. The Sensex and Nifty's strong weekly performance underscores the resilience of India's blue-chip companies amid market volatility.