Share Market Capital: Despite the decline in the Indian stock market, there has been a big increase in the market cap of the ten most valuable companies of the country in the last week’s trading. However, State Bank of India (SBI) have suffered losses. The combined market valuation of seven of the top 10 valued companies increased by Rs 1,50,679.28 crore last week. Information technology companies Tata Consultancy Services (TCS) and Infosys benefited the most from the overall optimistic trend in the market. Last week, a rise of 890.05 points or 1.37 percent was recorded in BSE’s benchmark index Sensex. Reliance Industries, TCS, HDFC Bank, Infosys, Hindustan Unilever, ITC and Bharti Airtel benefited from this rise. On the other hand, ICICI Bank, State Bank of India and Bajaj Finance, included in the top 10 companies, faced a decline in their market valuations. Last week, the valuation of TCS increased by Rs 62,148.99 crore to Rs 12,81,637.63 crore. In this way, the maximum increase was recorded in the valuation of TCS.
Big profit for Infosys
Infosys’ market capitalization increased by Rs 28,616.98 crore to Rs 5,96,681.75 crore. The capitalization of the country’s leading company Reliance Industries increased by Rs 28,111.41 crore to Rs 15,93,893.03 crore. Whereas the capitalization of HDFC Bank increased by Rs 11,136.61 crore to reach Rs 11,42,215.81 crore. The market valuation of Hindustan Unilever increased by Rs 10,032.75 crore to Rs 5,94,317.36 crore and that of Bharti Airtel increased by Rs 6,828.74 crore to Rs 5,32,585.63 crore. ITC also added Rs 3,803.8 crore in the period under review, taking its valuation to Rs 5,47,808.43 crore. However, the capitalization of public sector State Bank of India declined by Rs 14,502.5 crore to Rs 5,02,589.52 crore. During this period, the market valuation of ICICI Bank declined by Rs 11,308.97 crore to Rs 6,46,254.41 crore. The market valuation of Bajaj Finance also declined by Rs 4,973.68 crore to Rs 4,46,169.40 crore. With this, Reliance Industries has retained the title of the most valuable company of the country. It was followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, ITC, Bharti Airtel, State Bank of India and Bajaj Finance.
Capital withdrawal in FPI
Since August, foreign portfolio investors (FPIs) have been withdrawing capital from Indian markets on a large scale. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, says that from August to November 15, FPIs have made a total net sale of shares worth Rs 83,422 crore. However, during this period, domestic institutional investors (DIIs) purchased shares worth Rs 77,995 crore. Buying by individual investors along with DIIs completely neutralized the selling by FPIs. Vijayakumar said that it is due to the buying by DII and individual investors that the National Stock Exchange (NSE) index Nifty is once again present around 19,700 where it was in the beginning of August. Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd, said the market will focus on global and domestic macro-economic data, US bond yields, crude oil storages, investment trends of FIIs and DIIs and movement of rupee against dollar.
Nifty jumped 1.57 percent
Last week, BSE’s benchmark index Sensex rose by 890.05 points or 1.37 percent, while Nifty rose by 306.45 points or 1.57 percent. Last week, except banking, all major sectors participated in this rally and registered strong profits. The broad indices continued their rise and the midcap index also achieved its record high after two months. Ajit Mishra, Senior Vice President (Technical Research), Religare Broking Limited, said that global cues are largely dictating the trend and we expect this trend to continue in the coming weeks.