Eight of India’s top-10 most valued firms saw their market capitalizations (Mcap) surge by a combined Rs 1,83,290.36 crore last week, buoyed by a rally in equities led by IT giants Tata Consultancy Services (TCS) and Infosys.
The BSE benchmark index jumped 963.87 points, or 1.21%, during the week.
TCS, the largest gainer among the top-10 firms, saw its market valuation rise by Rs 38,894.44 crore to reach Rs 14,51,739.53 crore. Infosys followed closely, adding Rs 33,320.03 crore to its mcap, which stood at Rs 6,83,922.13 crore by the end of the week.
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Outcry over unchecked antisemitic content and commentary on social media site X, some of it endorsed by the platform’s owner Elon Musk, reached a tipping point on Friday, with large advertisers such as Apple Inc. pulling ads and the White House chastising the billionaire.
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Motilal Oswal’s latest report on the capital market highlights a notable surge in demat account registrations during February. According to estimates, approximately 43 lakh new demat accounts were added, pushing the overall tally to 14.80 crore accounts. This uptick contrasts with the average monthly additions of 21 lakh accounts witnessed in FY23.
The report underscores the continued dominance of Central Depository Services (India) Limited (CDSL) in the market, as it gained both total and incremental market share in February 2024.
Conversely, the National Securities Depository Limited (NSDL) experienced a decline in market share on a year-on-year basis, losing significant ground in both total and incremental demat accounts during the month.
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