Top-5 valued firms add Rs 1.54 lakh crore in market cap; TCS emerges biggest gainer
Five of India's top-valued companies added significant market capitalization last week, led by Tata Consultancy Services (TCS). The growth was driven by strong quarterly earnings and positive investor sentiment despite global economic uncertainties.
Why it matters
Reflects the resilience of the Indian equity market and the importance of the IT sector in driving national economic growth.
NEW DELHI: Five of India's 10 most-valued companies collectively added Rs 1.54 lakh crore to their market capitalisation last week, with Tata Consultancy Services (TCS) emerging as the biggest gainer after strong quarterly earnings helped lift investor sentiment amid a positive run in domestic equities.The gains came as the benchmark BSE Sensex advanced 582.06 points (0.75%) during the week, while the NSE Nifty climbed 127.4 points (0.52%)."Indian equity markets ended the week on a firm footing, extending their recovery despite heightened geopolitical tensions, elevated crude oil prices, and persistent uncertainty surrounding the global interest-rate outlook," Ajit Mishra, SVP-Research, Religare Broking told PTI.He attributed the rally to encouraging first-quarter earnings from the IT sector, renewed buying in financial stocks and resilient domestic economic fundamentals.Top weekly gainers & losersTCS saw the sharpest jump in valuation, adding Rs 72,072.3 crore to take its market capitalisation to Rs 8,20,672.70 crore.The country's largest IT services…
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