India’s Leading Companies Drive Market Boom, Investors Reap Massive Gains

Mumbai (The Uttam Hindu): The last week was profitable for the Indian stock market. Due to this, the market valuation of the country's top 10 companies has increased by Rs 3.84 lakh crore. Despite two days of holiday, the stock market performed well last week. Nifty rose 1,023 points or 4.48 percent to 23,851 and Sensex rose 3,395 points or 4.52 percent to close at 78,553.

Banking stocks led the rally in the market. Nifty Bank closed at 54,290, up 3,287 points or 6.45 per cent.

Among the top 10 companies, HDFC Bank and Bharti Airtel have seen the biggest increase in market valuation. HDFC Bank's market capitalisation increased by Rs 76,483.95 crore to Rs 14,58,934.32 crore. Bharti Airtel's market valuation has increased by Rs 75,210.77 crore, taking the company's market cap to Rs 10,77,241.74 crore.

The market cap of ICICI Bank increased by Rs 67,597 crore to Rs 10,01,948.86 crore. The market cap of State Bank of India increased by Rs 38,420.49 crore to Rs 7,11,381.46 crore. The market capitalisation of Tata Consultancy Services (TCS) increased by Rs 24,114.55 crore to Rs 11,93,588.98 crore. The market cap of Bajaj Finance increased by Rs 14,712.85 crore to Rs 5,68,061.13 crore.

ITC's market cap has increased by Rs 6,820.2 crore to Rs 5,34,665.77 crore. At the same time, Infosys' market capitalization has increased by Rs 3,987.14 crore to Rs 5,89,846.48 crore. Hindustan Unilever's market capitalisation increased by Rs 1,891.42 crore to Rs 5,57,945.69 crore.

Global and domestic factors are being considered as the reason for the rise in the market. The ban on reciprocal tariff in the US, the return of FIIs and the reduction in repo rate by the RBI have improved the market sentiment. Foreign institutional investors (FIIs) have invested more than one billion dollars in the Indian stock market in the last three trading sessions.