The top 10 most-valued firms gained a cumulative Rs 1.25 lakh crore in market valuation on Friday, with Bharti Airtel Ltd. and Reliance Industries Ltd. emerging as the biggest gainers.
Airtel gained Rs 40,677 crore, taking the market capitalisation to Rs 9.57 lakh crore, while RIL added Rs 15,629 crore, with its market cap rising to Rs 17.24 lakh crore.
ITC Ltd. and ICICI Bank Ltd. gained Rs 13,007 crore and Rs 11,414 crore respectively. Hindustan Unilever Ltd. and HDFC Bank Ltd. added Rs 10,878 crore and Rs 10,718 crore respectively.
The market capitalisation of State Bank of India rose Rs 7,318 crore to Rs 7.69 lakh crore, while Tata Consultancy Services Ltd. gained Rs 7,218 crore to approximately Rs 16.2 lakh crore.
Infosys Ltd. and Larsen & Toubro Ltd. added Rs 4,982 crore and Rs 4,035 crore respectively. All the stocks of the top 10 most-valued firms ended higher in trade.
RIL remained the most-valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, HUL, ITC and HCL Technologies Ltd.
The benchmark equity indices recorded a fourth straight week of gains as they ended higher after a volatile trading session on Friday.
The NSE Nifty 50 ended 219.60 points or 0.89% higher at 24,768.30, and the BSE Sensex closed 843.16 points or 1.04% up at 82,133.12. During the day, both the Nifty and Sensex fell over 1% and also rose more than 1%.
The market looks forward to the US Federal Open Market Committee's decision next week. CME FedWatch Tool showed a 96.7% chance of a 25-basis-point rate cut in the December meeting.
The market breadth was skewed in favour of the sellers as 2,151 stocks declined, 1,836 rose and 118 remained unchanged on the BSE.
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