Top 10 Most-Valued Firms Add Rs 56,919 Crore In Market Cap Amid Strong IT Sector Performance

The top 10 most-valuable firms by market capitalisation saw notable gains in Wednesday's trade, with several large companies reporting substantial increases in their m-cap. The overall market momentum was positive, driven by strong performance from the information technology sector.

The Nifty 50 and BSE Sensex extended their upward movement to the second consecutive day, supported by the gains in IT stocks and other key players in the market.

Leading the way with gains, Tata Consultancy Services Ltd. saw a massive rise of Rs 21,527 crore in its market cap. TCS was closely followed by Infosys Ltd., which added Rs 21,384 crore to its market cap. The strong gains of these IT giants helped bolster overall market sentiment, particularly within the technology sector.

Reliance Industries Ltd., the most valuable company on the list, also posted gains of Rs 1,488 crore. HDFC Bank, another key player, saw an increase of Rs 5,276 crore.

Bajaj Finance also enjoyed a healthy gain of Rs 9,473 crore in its m-cap.

The performance of these stocks contributed to a cumulative market cap increase of Rs 56,919 crore for the top 10 most-valued firms.

On the flip side, some firms faced downward pressure. Bharti Airtel’s market cap dipped by Rs 7,205 crore while HUL’s declined by Rs 1,151 crore. ITC’s market cap also fell by Rs 2,627 crore, contributing to the underperformance of select sectors that capped further rise in the collective market capitalisation of these companies.

The performance of these stocks played a crucial role in driving the broader market indices, with the Nifty 50 gaining 0.9% to 23,163 and the Sensex rising by 0.82% to 76,526.

The positive momentum in the market was largely fueled by the resurgence of IT stocks, with Infosys and TCS leading the way. Despite some losses in individual stocks, the overall market sentiment remained strong as investors focused on sectors with promising growth potential.