Nine of the 10 most valued companies registered a combined profit addition of Rs 71,964 crore in their market valuation last week, with ITC reporting maximum gains.
ITC, TCS, HUL, Coal India (CIL), RIL, HDFC, Infosys, HDFC Bank and SBI saw their market capitalisation grow by Rs 71,963.70 crore while ONGC suffered a loss of Rs 1,865.37 crore during the week to Friday.
ITC turned out to be the biggest gainer with an addition of Rs 19,620.45 crore in its market capitalisation at Rs 2,92,064.22 crore. TCS added Rs 14,137.82 crore, with its m-cap soaring to Rs 4,65,405.23 crore.
HUL saw an addition of Rs 7,650.71 crore at Rs 1,78,834.02 crore while market valuation of CIL grew Rs 7,386.82 crore to Rs 1,86,222.28 crore.
The corresponding figure for RIL is higher by Rs 7,119.68 crore at Rs 3,50,340.43 crore while HDFC valuation expanded Rs 5,926.85 crore to Rs 2,00,108.77 crore. Infosys added Rs 4,915.46 crore at Rs 2,32,152.20 crore.
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HDFC Bank saw a surge of Rs 4,817.77 crore in its market capitalisation, following which it stood at Rs 3,07,718.15 crore while that of SBI climbed Rs 388.14 crore to Rs 1,93,875.36 crore.
“The euphoria continued on the last trading day of the year… an expectation of tax sops in the budget, weakness of the dollar and robust tax collection are adding to the positive sentiment,” said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.
ONGC is the only company in the top pack that saw an erosion in value, which slumped by Rs 1,865.37 crore to Rs 2,45,692.29 crore.
Coming to the ranking, TCS maintained its numero uno position, followed by RIL, HDFC Bank, ITC, ONGC, Infosys, HDFC, SBI, CIL and HUL.
For the week, the Sensex and the NSE Nifty recorded a rise of 585.76 points, or 2.24 per cent, and 200.05 points, or 2.50 per cent, respectively.