Stock Market Cap: RBI’s interest rate will decide the direction of the market, the market cap of 7 companies decreased by one lakh crore rupees
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stock market: Last week there was a period of upheaval in the stock market. Investors had to bear huge losses due to market collapse for three consecutive days. However, on Friday, the last trading day of the week, the market filled up at once. There was a lot of business in the market. until market close BSE The Sensex closed at 480.57 points. There itself Nifty There was a rise in At the same time, now experts say that this month the direction of the market will depend on the global trends and the country’s top bank Reserve Bank of India (RBI).RBI) will be decided on the change in interest rates of repo rate and reverse repo rate. Also, the industrial production figures for June and the quarterly results of the companies will be decided to a large extent. Apart from this, the market will be affected by the trend of the global market, fluctuations in oil prices and the attitude of foreign investors, analysts said.
Companies will release their quarterly reports
Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Limited, said that the market will be eyeing the RBI Monetary Policy Committee (MPC) meeting, the results of which will be announced on August 10, 2023. Apart from this, the quarterly results of major companies like Adani Ports, Coal India, Hero MotoCorp, Hindalco and ONGC will also be watched. Gaur said that on the macro-economic front, market participants will closely monitor key developments like industrial production and manufacturing production data. These figures will be released on 11 August. He said that trend of global stock markets, movement of dollar index, position of rupee against dollar and crude oil prices will also affect the market.
‘Market will be affected by unemployment in America and GDP figures of Britain’
Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd said that the market will be influenced by RBI policy meeting, quarterly results, crude oil, US inflation data, unemployment situation in US and UK GDP data this week. Foreign institutional investors were net sellers in the capital market last week and their stance will be watched by traders this week. Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services Limited, said that this week will mainly focus on RBI’s policy meeting and the focus will remain on interest rate sensitive areas.
SBI market cap fell the most
The combined market valuation of seven of the top 10 most valuable companies in terms of market capitalization declined by Rs 1,09,947.86 crore last week. During this, the State Bank of India (SBI) suffered the most. Last week, the BSE Sensex declined by 438.95 points or 0.66 per cent. Among the top 10 companies, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, SBI, Bharti Airtel and Bajaj Finance were among the losers, while Tata Consultancy Services (TCS), HDFC Bank and Infosys gained in market valuation. SBI’s valuation declined by Rs 38,197.34 crore to Rs 5,11,603.38 crore. The market capitalization of ICICI Bank declined by Rs 17,201.84 crore to Rs 6,79,293.90 crore.
Infosys and HDFC Bank’s valuation also increased
ITC’s valuation declined by Rs 16,846.18 crore to Rs 5,66,886.01 crore and Bajaj Finance declined by Rs 14,366.34 crore to Rs 4,32,932.18 crore. At the end of the week, the valuation of Reliance Industries decreased by Rs 11,806 crore to Rs 16,98,270.74 crore and Hindustan Unilever’s valuation decreased by Rs 9,069.42 crore to Rs 5,98,299.92 crore. However, TCS’s valuation increased by Rs 31,815.45 crore to Rs 12,59,555.25 crore this week. Apart from this, the valuation of Infosys and HDFC Bank also increased. Reliance Industries remains the most valuable company in the country. It was followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, SBI and Bharti Airtel.
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