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Eight of top-10 firms add Rs 1.34 lakh cr in m-cap

Author: PTI/Wednesday, November 6, 2019/Categories: Exclusive

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Eight of top-10 firms add Rs 1.34 lakh cr in m-cap

Reliance Industries Limited (RIL), HUL, HDFC, ITC, Infosys, HDFC Bank and SBI were the other firms which witnessed a rally in their market capitalisation (m-cap) for the week ended Friday, while Kotak Mahindra Bank and ICICI Bank finished with losses.

The market valuation of Tata Consultancy Services (TCS) jumped Rs 28,893.36 crore to Rs 8,26,293.87 crore.
Infosys' m-cap soared by Rs 24,704.61 crore to Rs 2,98,535.04 crore, while State Bank of India (SBI) gained Rs 28,469.51 crore to Rs 2,79,786.57 crore.

RIL's m-cap zoomed Rs 16,671.95 crore to Rs 9,23,613.71 crore while that of Hindustan Unilever Limited (HUL) spurted Rs 7,977.33 crore to reach Rs 4,71,864.08 crore.

HDFC's market valuation advanced by Rs 4,428.96 crore to Rs 3,67,534.58 crore, and ITC added Rs 16,525.33 crore to its valuation to stand at Rs 3,21,045.99 crore.
The valuation of HDFC Bank increased by Rs 6,739.43 crore to reach Rs 6,78,932.19 crore.

On the other hand, the m-cap of Kotak Mahindra Bank dipped Rs 1,456.04 crore to Rs 3,01,837.35 crore while that of ICICI Bank plunged Rs 4,519.55 crore to Rs 2,98,535.04 crore.

In terms of ranking of the top-10 firms, RIL retained the top spot, followed by TCS, HDFC Bank, HUL, HDFC, ITC, Kotak Mahindra Bank, ICICI Bank, Infosys and SBI. During the week, the Sensex rose by 1,106.97 points or 2.83 per cent.

Foreign institutional investors (FIIs) purchased a Rs 533.37 crore in the capital market, on Friday, while domestic institutional investors sold shares worth Rs 136.50 crore, data available with stock exchange showed. According to experts, better liquidity from FIIs and mutual funds will maintain a positive sentiment in the market given de-escalation in geopolitical risks and focus on upcoming reforms to revive growth.

Globally, bourses in Shanghai, Hong Kong and Seoul were trading higher on optimism over the US-China trade deal after China's commerce ministry on Saturday announced that top Chinese and US trade negotiators "reached consensus on principles". Indices in Tokyo, however, were in the red.

Shares on Wall Street too ended higher after data showing the US economy continued to add jobs at a steady clip despite turbulence from the trade war with China. PTI


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