Market cap of 9 top firms surges ₹3.65 lakh crore; TCS leads gains

Last week, the combined market valuation of the nine most valuable firms in India surged by ₹3.65 lakh crore, with TCS leading the gains. This rise in market capitalization followed a bullish trend in equities, with the BSE benchmark Sensex increasing by 3.11 per cent and the NSE Nifty rising by 2.77 per cent. The Nifty-50 advanced by approximately 2.8 per cent, while the Sensex gained about 3.1 per cent.

The rally was primarily fueled by a sharp rebound in information technology stocks, following strong earnings in September, coupled with renewed buying interest in several heavyweight stocks. The top 10 firms that saw significant increases in their market valuation were Reliance Industries, Bharti Airtel, HDFC Bank, ICICI Bank, TCS, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC), and Infosys.

Larsen & Toubro was the only laggard among these companies. TCS's market valuation surged to ₹8,91,134.96 crore, Bharti Airtel's reached ₹11,88,815.45 crore, Infosys jumped to ₹4,71,409.41 crore, Reliance Industries zoomed to ₹16,37,437.19 crore, HDFC Bank's valuation reached ₹11,22,628.07 crore, ICICI Bank soared to ₹10,02,871.44 crore, Bajaj Finance edged higher to ₹6,11,326.72 crore, and LIC went up to ₹5,02,204.82 crore.

The market capitalization of State Bank of India advanced to ₹8,87,722.84 crore, while Larsen & Toubro's valuation declined by ₹9,232.26 crore to ₹4,99,725.06 crore.