Market Capitalization: Amid record rise in stock market, capital of top 9 companies increased by Rs 1.30 lakh crore

[ad_1]

Market Capitalization: The effect of last week’s rise in the Indian stock market was visible on the valuations of the companies. The combined market valuation of nine of the country’s top-10 valued companies increased by Rs 1,30,391.96 crore last week amid a rally in the domestic market, with Bharti Airtel and Tata Consultancy Services (TCS) being the biggest gainers. Last week, there was a bullish atmosphere in BSE and the benchmark index Sensex jumped by 1,511.15 points or 2.29 percent. During this period, except Reliance Industries, an increase was seen in the market valuation of other nine top companies of the country. The valuation of telecom company Bharti Airtel increased by Rs 23,746.04 crore to Rs 5,70,466.88 crore. At the same time, the market capitalization (MCAP) of information technology company TCS increased by Rs 19,027.07 crore to reach Rs 12,84,180.67 crore. Vinod Nair, Head of Research, Geojit Financial Services, believes that better than estimated GDP figures will give a growth outlook for the financial year 2023-24 and this will encourage the market to maintain the bullish momentum. Apart from this, enthusiasm was also seen from the monthly sales figures of vehicles. India’s gross domestic product (GDP) growth rate in the July-September quarter was a higher than expected 7.6 percent. In this way, India has maintained its status as the fastest growing major economy in the world.

HDFC-ITC’s tremendous earnings

HDFC Bank’s valuation increased by Rs 17,881.88 crore to Rs 11,80,588.59 crore during this period. ITC’s valuation increased by Rs 15,159.02 crore to Rs 5,61,159.09 crore and Bajaj Finance’s capitalization increased by Rs 14,480.29 crore to Rs 4,48,446.82 crore. ICICI Bank’s valuation rose by Rs 12,085.42 crore to Rs 6,63,370.71 crore and Hindustan Unilever (HUL)’s valuation rose by Rs 11,348.53 crore to Rs 6,02,258.98 crore. The market valuation of State Bank of India (SBI) increased by Rs 10,307.92 crore to Rs 5,10,353.93 crore and that of Infosys increased by Rs 6,355.79 crore to Rs 6,02,747.01 crore. However, the market valuation of Reliance Industries declined by Rs 574.95 crore to Rs 16,19,332.44 crore. Despite this, Reliance Industries remains the most valuable company in the country. In the ranking of top-10 companies, Reliance Industries is at first place and after that comes the name of TCS. After these, HDFC Bank, ICICI Bank, Infosys, HUL, Bharti Airtel, ITC, SBI and Bajaj Finance are present.

What is the forecast for next week?

There is full hope that the ongoing bullish trend in the domestic stock market will be visible this week also. On a weekly basis, a rise has been seen for the last five weeks. During this period, the Sensex has strengthened by about 3,700 points or 6 percent. In the last trading week, Sensex reached its high of last 11 weeks. India’s manufacturing sector continued its strong performance in November, according to a monthly survey released on Friday. This happened due to significant reduction in price pressure and strong demand from customers. S&P’s manufacturing purchasing index (PMI) reached 56 in November while it was at an eight-month low of 55.5 in October. During this period, the midcap index rose by 0.96 percent while the smallcap index rose by 0.48 percent.

Investment in FPI increased

According to market experts, the enthusiasm of foreign investors will remain in the Indian market this week also. Monetary review meeting is being organized by the Reserve Bank. The market expects that the apex bank will maintain its accommodative stance adopted since February. This will increase the enthusiasm of investors. After two months of net selling, foreign portfolio investors (FPIs) once again turned to the Indian stock markets in November and invested about Rs 9,000 crore. Along with this, depository data shows that FPIs made a net investment of Rs 14,860 crore in the debt market last month, which is the highest level in six years. FPIs continuously bought Indian equities from March to August and invested Rs 1.74 lakh crore in these six months.

,with language input,

[ad_2]

Source link