The combined market valuation of seven of the top-10 most valued firms jumped Rs 1,72,225.62 crore last week, with IT bellwether Tata Consultancy Services (TCS) stealing the show, amid a rally in equities.
Last week, the BSE benchmark jumped 522.74 points, or 0.65 per cent.
The 30-share BSE Sensex jumped 622 points, or 0.78 per cent, to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points, or 1.24 per cent, to hit an all-time high of 80,893.51.
The market capitalisation (mcap) of TCS surged Rs 62,393.92 crore to Rs 15,14,133.45 crore.
Shares of TCS on Friday surged nearly 7 per cent after the country’s largest IT services player reported an 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore.
ITC added Rs 31,858.83 crore taking its valuation to Rs 5,73,258.78 crore.
The mcap of Infosys zoomed Rs 26,905.14 crore to Rs 7,10,827.27 crore and that of Life Insurance Corporation of India (LIC) jumped Rs 22,422.12 crore to Rs
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Mcap of 7 of top-10 most valued firms jump Rs 1.72 trn; TCS steals show (14-07-2024)
Q1 results to influence trading in mkts in holiday-shortened week: Analysts (13-07-2024)
Quarterly earnings from several blue-chip firms, including Infosys and Reliance Industries, global trends, along with trading activity of foreign investors, would act as the major driving factors for equity markets’ movement in a holiday-shortened week ahead, analysts said.
The domestic WPI inflation data for June — scheduled to be announced on Monday — will also influence trading sentiments, traders said.
Markets will remain closed on Wednesday for Muharram.
Among major quarterly earnings to be tracked this week are from HDFC Life Insurance Company, Bajaj Auto, BPCL, JSW Steel, Asian Paints, Infosys, and Reliance Industries.
“Q1 earnings will be a key focus this week as numerous companies, including heavyweights Infosys, and Reliance, are set to release their results. Additionally, pre-Budget discussions are expected to contribute to market volatility,” Santosh Meena, Head of Research, Swastika Investmart Ltd, said.
On the global front, a significant focus will be on China. The
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Reported sales nil
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