Mumbai: 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 Rs21,314.7 crore, taking its total valuation to Rs3,53,373 crore for the week ended 26 December.
Shares of RIL gained 6.40% to close at Rs1,075.20 at the end of the Thursday’s trade on the BSE.
On Wednesday, finance minister Pranab Mukhrejee expressed hope that economy would grow by 7.5-8% 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 Rs2,609 crore to Rs2,56,172.46 crore.
Power utility major NTPC inched up to third place by adding Rs18,840.79 crore to its valuation, while trading firm MMTC slipped to fourth place from third even after adding Rs3,702.75 crore to its m-cap.
The total m-cap of NTPC stood at Rs1,89,563.13 crore and MMTC at Rs1,74,566.75 crore.
The country’s largest iron ore producer NMDC valuation surged by Rs7,314.24 crore taking its total m-cap to Rs1,64,198.05 crore.
IT firms-- Infosys Technologies and TCS-- together added Rs7,807.61 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 Rs1,48,507.08 crore while TCS seventh with Rs1,46,535.56 crore.
The country’s largest public sector lender SBI which is at eighth position added Rs4,644.1 crore to its market capitalisation taking its total valuation to Rs1,40,822.73 crore.
Private telecom services provider Bharti Airtel was at ninth position rising by Rs1,446.58 crore and power equipment maker Bhel at tenth spot added Rs2,420.67 crore to its m-cap.
Bharti Airtel’s total valuation stood at Rs1,21,844.45 crore and Bhel m-cap stood at Rs1,15,972.18 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.