Apple employees cheer as they welcome customers during the opening of Apple's first retail store in India, in Mumbai on April 18, 2023. (PHOTO / AFP)

Market capitalizations of global mega-cap companies, led by prominent technology firms, surged in November, buoyed by a decline in US yields and growing anticipation of potential rate cuts by global central banks amid diminishing worries about inflation.

Apple Inc's market value jumped 11.2 percent to $2.95 trillion over the past month, while Microsoft Corp saw a 12.1 percent increase in its market cap, reaching $2.8 trillion.

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

Nvidia Corp's market cap soared 14.7 percent to $1.15 trillion, following its announcement of a 206 percent year-over-year revenue increase to $18.1 billion in the third quarter. The firm also projected higher-than-expected 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 percent to $451 billion by the end of November.

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In other sectors, Tesla Inc's market value rose nearly 20 percent to $763.2 billion last month.

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