9 of top-10 cos add Rs 58,799 cr in m-cap

Nine of the country's top-10 firms in terms of market cap became wealthier by Rs 58,798.84 crore, amid a strong broader market, with State Bank of India (SBI) emerging as the biggest gainer.

With a market capitalisation (m-cap) of Rs 1,89,385.77 crore, SBI is only behind RIL and ONGC, among the most coveted companies of the country.

SBI emerged as the third largest company by market capitalisation and added Rs 13,271.29 crore to its m-cap for the week ended September 9.

During the last week, shares of SBI rose nearly 7 per cent to settle at Rs 2,982.50 at the end of Thursday's trade on the Bombay Stock Exchange.

According to market experts, the stock rose on expectations of pick up in credit offtake. Also, impressive growth in the economy and better-than-expected first quarter earnings triggered buying in banking sector stocks.

On a weekly basis, the broader market Sensex recorded a gain of 3.17 per cent and stood at 18,799.66 as on Thursday's trade.

Corporate behemoth Reliance Industries (RIL) yet again ruled the chart and added Rs 10,584.18 crore, the second biggest gain in the chart, to take its market valuation to Rs 3,13,419.21 crore.

RIL was followed by ONGC, SBI, TCS, NTPC, Infosys, MMTC, Airtel, ITC and BHEL.

Oil and gas major ONGC saw its valuation swell by Rs 3,753.71 crore to Rs 2,89,934.52 crore.

Two of the IT firms, TCS and Infosys Technologies, together added Rs 13,628.84 crore to their combined m-cap, which stood at Rs 1,70,638.48 and Rs 1,65,931.71 crore, respectively.

Public sector companies NTPC and BHEL also added a sum of Rs 9,256.34 crore to their combined market valuation, which was at Rs 1,66,846.88 crore and Rs 121307.95 crore, respectively.

With an m-cap of Rs 1,40,215 crore, trading giant MMTC added Rs 4,450 crore into its valuation.

Country's top telco Bharti Airtel added Rs 3,854.48 crore into its kitty to Rs 1,32,742.31 crore, while FMCG major ITC saw a wealth erosion of Rs 1,263.81 crore from its m-cap to take its valuation to Rs 1,24,541.84 crore.