A strong market rally triggered by the government’s encouraging economic growth forecast helped the country’s top ten companies add over Rs 70,000 crore in the past week.
The country’s most-valued firm Reliance Industries was the biggest gainer with its market capitalisation (m-cap) soaring by Rs 21,314.7 crore, taking its total valuation to Rs 3,53,373 crore for the week ended December 26.
Shares of RIL gained 6.40 per cent to close at Rs 1,075.20 at the end of the Thursday’s trade on the Bombay Stock Exchange.
On Wednesday, Finance Minister Pranab Mukhrejee expressed hope that economy would grow by 7.5 to 8 per cent during the current financial year.
The stock market traded only for four days, Friday being a holiday on the occasion of Christmas.
RIL is followed by oil major ONGC which saw its valuation surged by Rs 2,609 crore to Rs 2,56,172.46 crore.
Power utility major NTPC inched up to third place by adding Rs 18,840.79 crore to its valuation, while trading firm MMTC slipped to fourth place from third even after adding Rs 3,702.75 crore to its m-cap.
The total m-cap of NTPC stood at Rs 1,89,563.13 crore and MMTC at Rs 1,74,566.75 crore.
The country’s largest iron ore producer NMDC valuation surged by Rs 7,314.24 crore taking its total m-cap to Rs 1,64,198.05 crore.
IT firms - Infosys Technologies and TCS - together added Rs 7,807.61 crore to their market valuation.
At the end of the week, the m-cap of Infosys Technologies that retained its last week ranking at sixth, swelled to Rs 1,48,507.08 crore while TCS seventh with Rs 1,46,535.56 crore.
The country’s largest public sector lender SBI which is at eighth position added Rs 4,644.1 crore to its market capitalisation taking its total valuation to Rs 1,40,822.73 crore.
Private telecom services provider Bharti Airtel was at ninth position rising by Rs 1,446.58 crore and power equipment maker BHEL at tenth spot added Rs 2,420.67 crore to its m-cap.
Bharti Airtel’s total valuation stood at Rs 1,21,844.45 crore and BHEL m-cap stood at Rs 1,15,972.18 crore.
Meanwhile, the 30 share index Sensex during the past week surged nearly four per cent or 640.78 points to close at 17,360.61 points on the BSE.
RIL, the numero-uno in the list is followed by ONGC (Rs 2,56,172.46 crore), NTPC (Rs 1,89,563.13 crore), MMTC (Rs 1,74,566.75 crore), NMDC (Rs 1,64,198.05 crore), Infosys (Rs 1,48,507.08 crore), TCS (Rs 1,46,535.56 crore), SBI (Rs 1,40,822.73 crore), Airtel (Rs 1,21,844.45 crore), and BHEL (Rs 1,15,972.18 crore).