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MCAP OF 7 TOP FIRMS JUMPS RS1.4 TRILLION; TCS, INFOSYS LEAD
The Business Guardian
|August 19, 2024
The combined market valuation of seven of India’s top ten companies surged by Rs 1,40,863.66 crore in a holiday-shortened trading week, reflecting strong gains in the IT and telecom sectors.
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In a holiday-shortened trading week, the combined market valuation of seven of India’s top ten most valuable companies surged by a remarkable Rs 1,40,863.66 crore. This rise occurred as the BSE benchmark Sensex experienced a notable gain of nearly 1%, driven primarily by a strong rally on Friday.
The market performance reflected optimism on Dalal Street, where Tata Consultancy Services (TCS) and Infosys emerged as the biggest gainers among the top firms. Both IT giants saw their market capitalizations soar, aligning with the overall positive trend in the stock market.
The benchmark Sensex climbed by 730.93 points or 0.91% during the week, buoyed by the rally. This upswing was primarily driven by a robust performance across several sectors, with the IT sector taking the lead. TCS and Infosys, the key players in this sector, significantly contributed to the overall market rally.
This story is from the August 19, 2024 edition of The Business Guardian.
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