Dec 1 Reuters Market capitalisations of global megacap companies, led by prominent technology firms, surged in November, buoyed by a decline in U.S. yields and growing anticipation of potential rate cuts by global central banks amid diminishing worries about inflation.

Apple Inc39;s market value jumped 11.2 to 2.95 trillion over the past month, while Microsoft Corp MSFT.O saw a 12.1 increase in its market cap, reaching 2.8 trillion.

Nvidia Corp39;s market cap soared 14.7 to 1.15 trillion, following its announcement of a 206 yearoveryear revenue increase to 18.1 billion in the third quarter. The firm also projected higherthanexpected revenue for the fiscal fourth quarter, citing improved supply chain conditions and robust demand for its AI chips.

Easing inflation concerns also gave a big boost to banking stocks. JPMorgan Chase Co saw its market cap increase by 12.2 to 451 billion by the end of November.

In other sectors, Tesla Inc39;s market value rose nearly 20 to 763.2 billion last month, following a price hike for its Model 3 and Y vehicles in China. Despite the cessation of subsidies, China recorded a surge in electric vehicle sales in October, according to market research firm Rho Motion.

Conversely, a decline in oil prices led to a drop in the market capitalisations of major oil firms. Saudi Arabian Oil Co and Exxon Mobil Corp saw market caps fall by 0.3 and 2.9, respectively.

Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Kim…