Share Market: This week Relasan earned the highest profit, the direction of the local market will be decided by the global market.
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Share Market Capitalization: The combined market valuation of four of the country’s top 10 valued companies increased by Rs 65,671.35 crore last week. Reliance Industries was the biggest gainer. BSE’s benchmark index Sensex recorded a rise of 175.31 points or 0.26 percent last week. Reliance Industries, HDFC Bank, ICICI Bank and Bharti Airtel benefited from this boom. On the other hand, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC, State Bank of India and Bajaj Finance, among the top 10 companies, faced a decline in their market valuations. Last week, the valuation of Reliance Industries increased by Rs 26,014.36 crore to Rs 16,19,907.39 crore. In this way it recorded the highest increase in valuation. During this period, the market capitalization of HDFC Bank increased by Rs 20,490.9 crore to Rs 11,62,706.71 crore. Bharti Airtel’s capitalization increased by Rs 14,135.21 crore to Rs 5,46,720.84 crore. Whereas the capitalization of ICICI increased by Rs 5,030.88 crore to Rs 6,51,285.29 crore.
TCS market cap reduced
The market capitalization of TCS declined by Rs 16,484.03 crore to Rs 12,65,153.60 crore. Bajaj Finance’s valuation fell by Rs 12,202.87 crore to Rs 4,33,966.53 crore. The market valuation of Hindustan Unilever fell by Rs 3,406.91 crore to Rs 5,90,910.45 crore and that of State Bank of India fell by Rs 2,543.51 crore to Rs 5,00,046.01 crore. ITC’s market valuation declined by Rs 1,808.36 crore to Rs 5,46,000.07 crore, while Infosys’ market valuation declined by Rs 290.53 crore to Rs 5,96,391.22 crore. With this, Reliance Industries has retained the title of the most valuable company of the country. This was followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India and Bajaj Finance.
The direction of the local market will be decided by global trends.
Analysts say that as this weekend is long due to holidays, the stock markets will be largely determined by global trends. Analysts say that the stock market will also depend on macroeconomic data. Stock markets will remain closed on Monday on the occasion of Guru Nanak Jayanti. Investors will also keep an eye on the business activities of foreign investors and the position of the rupee against the dollar. Santosh Meena, Head of Research, Swastika Investmart Limited, said that global trends are relatively weak. Market participants will closely monitor movements in crude oil prices, US bond yields and dollar index. On the domestic macroeconomic front, GDP data for the July-September quarter will be released on Thursday. Purchasing Managers Index (PMI) data for the manufacturing sector will be announced on Friday. Automobile companies will remain in the headlines amid announcements of monthly sales figures.
BSE benchmark rose 175.31 points
Arvinder Singh Nanda, Senior Vice President, Master Capital Services Limited, said that US GDP (Gross Domestic Product) data, crude oil inventory, US PMI data and Eurozone Core CPI (Consumer Price Index) data will decide the direction of the market. Last week, the BSE benchmark rose 175.31 points or 0.26 percent and the Nifty rose 62.9 points or 0.31 percent. Santosh Meena said that the markets remained largely calm last week, there was no significant change in the major indices. V.K., chief investment strategist at Geojit Financial Services. Vijayakumar said that there are some important developments which may affect the inflow of foreign portfolio investors (FPIs) into India. The better than expected decline in inflation in America has made the market believe that the Federal Bank has decided to increase rates.
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