In a week reflecting optimism on Dalal Street, the Indian market valuation soars, with six of the top 10 most-valued companies adding a staggering ₹2,03,116.81 crore. This remarkable growth, driven by robust investor sentiment, saw the BSE Sensex surge by 1,906.33 points (2.38%) and the NSE Nifty climb 546.7 points (2.26%).
Top Gainers of the Indian Market: TCS and HDFC Bank Shine Bright
Leading this rally was Tata Consultancy Services (TCS), whose market valuation skyrocketed by ₹62,574.82 crore. The company’s total worth now stands at an impressive ₹16,08,782.61 crore. Hot on its heels was HDFC Bank, which added ₹45,338.17 crore, pushing its valuation to ₹14,19,270.28 crore.
Reliance Industries, India’s most valuable company, also saw significant growth. Its market value increased by ₹26,185.14 crore, solidifying its top spot with a valuation of ₹17,75,176.68 crore.
Infosys wasn’t far behind, recording a jump of ₹26,885.8 crore to reach a market cap of ₹7,98,560.13 crore. State Bank of India (SBI) followed suit, gaining ₹22,311.55 crore to bring its valuation to ₹7,71,087.17 crore. ICICI Bank rounded out the gainers, adding ₹19,821.33 crore, with its total value now at ₹9,37,545.57 crore.
Lagging Performers in the Top 10 of the Indian Market
Despite the upbeat trend, not all companies in the top 10 experienced gains. Bharti Airtel saw its valuation dip by ₹16,720.1 crore, closing the week at ₹9,10,005.80 crore. ITC also reported a decline of ₹7,256.27 crore, with its market cap settling at ₹5,89,572.01 crore.
Hindustan Unilever and LIC faced minor setbacks, losing ₹2,843.01 crore and ₹1,265 crore, respectively.
Bullish Market Context and Key Developments
The surge in the Indian market valuation can be attributed to broader market optimism. The Reserve Bank of India’s (RBI) decision to reduce the cash reserve ratio (CRR) injected liquidity into the system, further fueling positive sentiment. However, the RBI chose to maintain interest rates, balancing growth concerns with inflation risks.
Despite minor fluctuations, the BSE Sensex ended the week at 81,709.12, down 0.07%, while the NSE Nifty dipped slightly by 0.12% to close at 24,677.8.
Rupee Gains Amid Favorable Conditions
The Indian rupee also posted a marginal gain of 0.05% against the U.S. dollar, closing at 84.6875. A weaker dollar and the RBI’s liquidity measures supported the rupee’s ascent, offering a silver lining amidst global economic uncertainties.
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