Market Update: Six of Top 10 Most Valued Firms Add ₹2 Lakh Crore in Market Cap; TCS, HDFC Bank Lead the Gains

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In a bullish week for the equity markets, six of India's top 10 most valued companies saw a combined market capitalization (mcap) increase of ₹2 lakh crore. The surge was led by IT giant Tata Consultancy Services (TCS) and banking heavyweight HDFC Bank, reflecting strong investor sentiment.



Top Gainers

TCS emerged as the biggest contributor to the gain, adding ₹65,500 crore to its valuation, pushing its mcap to ₹13.2 lakh crore. HDFC Bank followed closely with an increase of ₹50,300 crore, boosting its market value to ₹12.4 lakh crore.

Other major gainers included Reliance Industries, Infosys, ICICI Bank, and State Bank of India (SBI), collectively adding significant momentum to the market.

Muted Performance by Four Firms

However, the remaining four companies in the top 10, including Hindustan Unilever and Bharti Airtel, witnessed a decline or muted growth in their valuations. Analysts attribute this divergence to sector-specific factors and profit booking in select stocks.

Driving Factors

Market analysts point to several factors behind the robust performance of these firms:

  • Positive Q2 earnings: Strong earnings reports across key sectors have bolstered confidence.
  • Global cues: Favorable global trends, including easing inflation and steady interest rates, have further strengthened sentiment.
  • Sectoral resilience: IT and banking stocks, in particular, have shown resilience amid global economic uncertainties.

Outlook

With six of the top 10 firms collectively driving the broader market upward, the equity markets continue to show strength. Experts suggest that sustained buying interest, particularly in blue-chip stocks, could further bolster market capitalization in the coming weeks.

Investors will now keenly watch for domestic economic indicators and global market trends to gauge the trajectory of these top-performing firms.

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