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last wk.

Indian Equity Markets Extend Gains as Banking and Telecom Drive Valuation Surge

Sensex and Nifty sustain over 4% weekly rally, with HDFC Bank and Bharti Airtel leading a Rs 3.84 lakh crore market cap boost.

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Overview

  • Sensex climbed 3,395 points (4.51%) and Nifty rose 1,023 points (4.48%) last week, marking a robust recovery in Indian equities.
  • The combined valuation of the top 10 firms surged by Rs 3.84 lakh crore, with HDFC Bank and Bharti Airtel contributing the largest gains.
  • The Reserve Bank of India's recent 25 bps rate cut and shift to an accommodative stance added momentum to the rally.
  • Foreign portfolio investors reversed their selling trend, injecting over $1 billion into Indian equities over the past three trading sessions.
  • Banking and telecom sectors led the charge, with ICICI Bank, State Bank of India, and Reliance Industries also seeing significant valuation growth.