Market cap of top 9 companies in share market increased by Rs 97,463 crore, know how the market will be this week
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Stock Market Analysis: Last week the ups and downs continued in the stock market. The market was seen to be directly affected by the trends received from the global market, activities of foreign investors and report cards of the companies. Meanwhile, the market capitalization of nine of the top 10 Sensex companies (Market Cap) increased by Rs 97,463.46 crore last week. Reliance Industries was the biggest gainer. Last week, the 30-share BSE Sensex gained 580.98 points or 0.91 percent. Barring Bajaj Finance, market valuations of other companies in the top 10 increased during the week. In the week under review, the market capitalization of Reliance Industries increased by Rs 36,399.36 crore to reach Rs 15,68,995.24 crore. state Bank of India (SBI)’s market capitalization stood at Rs 5,15,976.44 crore with an increase of Rs 15,305.71 crore. The market valuation of ICICI Bank increased by Rs 14,749.52 crore to Rs 6,54,042.46 crore and that of HDFC Bank increased by Rs 11,657.11 crore to Rs 11,25,842.89 crore. Similarly, the market capitalization of Bharti Airtel increased by Rs 9,352.15 crore to Rs 5,23,087.22 crore. of Hindustan Unilever Market capitalization Profit stood at Rs 5,89,418.46 crore as against Rs 6,320.4 crore.
TCS’s market position increased
The market valuation of Infosys increased by Rs 3,507.08 crore and reached Rs 5,76,529.86 crore. The market capitalization of Tata Consultancy Services (TCS) increased by Rs 109.77 crore to Rs 12,26,093.23 crore and that of ITC increased by Rs 62.36 crore to reach Rs 5,40,699.70 crore. Contrary to this trend, the market valuation of Bajaj Finance declined by Rs 5,210.91 crore to Rs 4,49,604.04 crore. Reliance Industries remained at first position in the list of top 10 companies. After that, TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, Bharti Airtel, SBI and Bajaj Finance have been ranked.
The direction of the stock market will be decided by the quarterly report cards of companies.
Quarterly report card of domestic companies, global trends and activities of foreign investors will decide the direction of the stock markets this week. Analysts have expressed this opinion. Apart from this, investors will also keep an eye on the price of crude oil at the global level and the movement of the rupee against the dollar. Santosh Meena, Head of Research, Swastika Investmart said that on the domestic front, the second quarter results of companies will be very important from the market point of view. If foreign institutional investors (FIIs) remain net buyers, this may provide further support to the market rally. Meena said that although geopolitical concerns remain, they have had limited impact on the overall market sentiment. The engagement of global markets will be important to maintain this positive sentiment. On the macroeconomic front, Industrial Production (IIP) data will be announced after market close on Friday. Vinod Nair, Head of Research, Geojit Financial Services, said that the market has been strengthened by strong global indicators, stable macroeconomic data and better results of domestic companies. Apart from this, the indication of no further increase in interest rates by the Federal Reserve and the fall in crude oil prices have also increased the confidence of investors.
Market affected by economic developments
Arvinder Singh Nanda, Senior Vice President, Master Capital Services, said that macroeconomic developments on global and domestic front, attitude of domestic institutional investors (DIIs) along with FIIs, crude oil reserves, movement of rupee against dollar, US bond yields, Israel. -Hamas conflict and second quarter results will play an important role in deciding the direction of the market this week. He told that in the coming days, some big companies like HPCL, NHPC, IRCTC, Power Grid, Tata Power, Ashok Leyland, Coal India, Hindalco, LIC, Mahindra & Mahindra and Tata Chemicals will announce their quarterly results. Last week, the 30-share BSE Sensex gained 580.98 points or 0.91 percent. At the same time, a rise of 183.35 points or 0.96 percent was recorded in the Nifty of the National Stock Exchange. The Sensex closed at 64,363.78 points on Friday, up 282.88 points or 0.44 percent. Nifty reached 19,230.60 points with a gain of 97.35 points or 0.51 percent.
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