The combined market capitalisation (mcap) of seven of the top-10 most valued Indian firms surged by ₹1,55,710.74 crore during the holiday-shortened last week, buoyed by a strong performance in domestic equities. Reliance Industries and Tata Consultancy Services (TCS) led the gains.

The benchmark BSE Sensex advanced 259.69 points, or 0.30 per cent, over the week, touching a 52-week high of 85,290.06 on Thursday, reflecting continued investor optimism in large-cap stocks.

Among the top gainers, Reliance Industries, Bharti Airtel, TCS, State Bank of India, Bajaj Finance, Infosys, and Life Insurance Corporation of India (LIC) saw their valuations rise.

In contrast, HDFC Bank, ICICI Bank, and Hindustan Unilever Ltd (HUL) witnessed a decline in their market worth.

Analysts attributed the positive sentiment to robust Q2 earnings, foreign institutional inflows, and stable macroeconomic indicators, which have kept India’s stock markets on an upward trajectory.

Reliance Industries’ strong gains were driven by optimism over its retail and telecom arms, while TCS benefitted from steady deal momentum in the global IT services sector.

Market experts believe that the uptrend in large-cap stocks may continue in the near term, supported by healthy corporate earnings and improving global risk appetite.