Share Market: Amidst ups and downs, top 6 companies earned Rs 70,527.11 crore, know how the share market will be this week
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Share Market: Last week was full of ups and downs for the Indian stock market. After the market was hit on the first day of the week by the Israel-Hamas war, it came out of the crisis on Tuesday. Even after this, there was uncertainty in the market due to many reasons including the rise in crude oil prices and American bonds. Meanwhile, the market capitalization (market cap) of six out of the top 10 Sensex companies increased by Rs 70,527.11 crore last week. Reliance Industries Ltd. is the biggest gainer. ,RIL) doing. While the market capitalization of Hindustan Unilever, Bharti Airtel, ITC, ICICI Bank and HDFC Bank increased in the week under review, the market capitalization of Infosys, Tata Consultancy Services (TCS), State Bank of India (SBI) and Bajaj Finance decreased. Last week, the 30-share BSE Sensex gained 287.11 points or 0.43 percent. During the week, the market valuation of Reliance Industries increased by Rs 22,191.43 crore to reach Rs 15,90,408.31 crore. Hindustan Unilever’s market capitalization stood at Rs 6,04,326.62 crore with a jump of Rs 17,222.5 crore.
Market cap of Airtel-ITC increased
The market capitalization of Bharti Airtel stood at Rs 5,36,035.96 crore with an increase of Rs 16,953.01 crore and that of ITC stood at Rs 5,59,071.10 crore with a jump of Rs 7,607.26 crore. The market capitalization of ICICI Bank increased by Rs 4,581.64 crore to Rs 6,66,639.07 crore. HDFC Bank’s valuation increased by Rs 1,971.27 crore to Rs 11,65,135.58 crore. Contrary to this trend, the market capitalization of Infosys declined by Rs 19,403.04 crore to Rs 5,94,252 crore. TCS’s market cap fell to Rs 13,06,391.11 crore with a loss of Rs 18,258.67 crore. SBI’s valuation declined by Rs 16,019.67 crore to Rs 5,14,191.52 crore. Bajaj Finance’s market cap fell to Rs 4,87,746.65 crore with a loss of Rs 7,137.72 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 were ranked respectively.
Quarterly results, crude oil prices, geopolitical uncertainties will decide the market trend this week.
The financial results of the second quarter of the current financial year of companies, crude oil prices and geopolitical uncertainty in West Asia will decide the trend of local stock markets this week. Analysts have said this. Apart from this, the activities of foreign institutional investors (FIIs) will also affect the market. Santosh Meena, Head of Research, Swastika Investmart Limited, said that this week the quarterly results of many big companies are to be announced, which will have a huge impact on the direction of the market. Their stance will also be important in view of the recent selling by foreign institutional investors (FIIs).
Foreign investors withdrew Rs 9800 crore from the market
Amid the continuous rise in US bond yields and the uncertain environment created by the Israel-Hamas conflict, foreign investors have withdrawn about Rs 9,800 crore from the Indian stock markets so far this month. Despite this turmoil, the stock markets closed on a positive note last week, the main reason for which was domestic support. Last week, the 30-share BSE Sensex rose 287.11 points or 0.43 percent. Vinod Nair, head of research at Geojit Financial Services, said that despite continuing concerns over the conflict in West Asia, Indian markets made a comeback due to positive expectations regarding second quarter results and softening of global bond yields. On the macroeconomic front, Nair said a significant decline in Consumer Price Index (CPI) based inflation data and domestic factors such as industrial production helped maintain optimism. However, weak earnings forecasts of the information technology (IT) sector and rise in crude oil prices affected the market, he said.
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