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TCS lifts India’s top firms as Sensex and Nifty end higher
Five of the 10 most valued Indian companies added ₹1.54 lakh crore in market value last week, while the Sensex rose 0.75% and the Nifty gained 0.52%.
India’s equity markets ended the week higher, with the BSE Sensex climbing 582.06 points, or 0.75%, and the NSE Nifty rising 127.4 points, or 0.52%, according to LiveMint Markets. The combined market valuation of five of the top 10 most valued firms increased by ₹1.54 lakh crore last week, driven by gains in IT and select financials, even as investors weighed geopolitical tensions, elevated crude oil prices, and uncertainty around the global interest rate outlook, the outlet said. LiveMint Markets reported that TCS emerged as the biggest winner among the gainers, after the company posted a 4.61% increase in June quarter net profit to ₹13,349 crore and guided toward improving demand affected by the West Asia crisis, as buying interest returned to financial stocks. Among other movers cited by LiveMint Markets, ICICI Bank’s valuation rose by ₹29,062.06 crore to ₹10,34,441.77 crore, while Reliance Industries gained ₹23,884.93 crore to ₹17,95,091.26 crore. The outlet also noted declines for some large names, including Larsen & Toubro, Bharti Airtel, and HDFC Bank.
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