Mumbai, Feb 7: The market capitalisation of India’s second most valuable company, Tata Consultancy Services (TCS) crossed the Rs 15 lakh crore mark on Tuesday.
TCS was the top gainer among Sensex stocks jumping 4.1 per cent to trade at Rs 4137. TCS market cap is now at Rs 15.13 lakh crore.
IT stocks are leading the Sensex gains with HCL Tech up 4 per cent. Wipro is up more than 3 per cent and , Infosys is up more than 2 per cent.
Among the other gainers, Maruti is up more than 3 per cent while Bharti Airtel is up almost 3 per cent.
BSE Sensex is trading at 72,103.71 points up by 372.29 points.
The near-term market trend indicates exhaustion and there are no clear positive triggers that can take the market to sustained new highs immediately, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
An important event coming up is the RBI meeting on 8th. But no positive triggers like a rate cut are likely from the RBI meeting, he said.
The global market construct also is challenging with the 10-year bond yield rising again to 4.13 per cent and the dollar index rising to 104.5. The positive takeaway is that the U.S. economy is doing surprisingly well and a sharp global slowdown triggered by a possible US recession is very unlikely, he said.