Investors will be eyeing the details of the US Federal Open Market Committee (FOMC) meeting to be released this week.
Swastik Investmart Ltd. Research Head Santosh Meena said, "Since the financial results of the companies have come, this week, there are no such important activities on the macroeconomic fronts, from which investors can take cues. However, economic data will be important at the global level.
In this, inflation data in Japan and details of the US FOMC meeting are important, which investors will be eyeing. Apart from this, the situation of uncertainty at the global level remains a risk for the market.
He said that traders will also be eyeing the capital inflow of foreign institutional investors (FIIs) and fluctuations in the price of crude oil.
The global market rose on Friday as the fear of recession in the US decreased. Prashant Tapase, Senior Vice President (Research), Mehta Equities Limited, said that positive data like softening of inflation and strong retail sales figures in the US have allayed fears of recession. Apart from this, the possibility of the US Federal Reserve cutting the policy rate early next month led to a big rally in global stock markets including India.
The BSE Sensex jumped 1,330.96 points or 1.68 percent to close at 80,436.84 on Friday. This is the best one-day gain in more than two months. The NSE Nifty also closed at a two-week high of 24,541.15, up 397.40 points or 1.65 percent.
Master Capital Services Ltd. Director of BSE, Palak Arora Chopra said, "The trend of the market will be decided by the details of the FOMC meeting and the data of home sales in the US.
Last week, the BSE Sensex rose by 730.93 points or 0.91 percent while the NSE Nifty strengthened by 173.65 points or 0.71 percent. Motilal Oswal Financial Services Ltd. Retail Research Head Siddharth Khemka said that this week all eyes will be on the details of the US Federal Reserve meeting."Overall, we expect the market to be strong and take cues from global activities.
Last week, the market capitalization of seven of the top 10 companies of the country increased by Rs 1,40,863.66 crore combined. The market valuation of companies has increased with a rise of one percent in the BSE Sensex.
Tata Consultancy Services and Infosys were the biggest gainers with better business expectations. Last week, there were fewer trading days due to holidays.
With a jump on Friday, the BSE Sensex gained 730.93 points or 0.91 percent last week. The market capitalization (mcap) of Tata Consultancy Services (TCS) increased by Rs 67,477.33 crore to Rs 15,97,946.44 crore.
At the same time, the valuation of Infosys increased by Rs 36,746.21 crore to Rs 7,72,023.49 crore. The mcap of Bharti Airtel increased by Rs 11,727.55 crore to Rs 8,45,123.87 crore and the market capitalization of ICICI Bank increased by Rs 10,913.96 crore to Rs 8,36,115.19 crore.
ITC's valuation rose by Rs 8,569.73 crore to Rs 6,28,399.10 crore and Reliance Industries' market capitalisation rose by Rs 5,311.4 crore to Rs 20,00,076.41 crore.
HUL's mcap rose by Rs 117.48 crore to Rs 6,45,926.13 crore. However, Life Insurance Corporation of India's (LICI) market capitalisation fell by Rs 47,943.48 crore to Rs 6,69,058.26 crore.
HDFC Bank's valuation fell by Rs 13,064 crore to Rs 12,43,441.53 crore and State Bank of India's valuation fell by Rs 10,486.42 crore to Rs 7,25,080.10 crore. Reliance Industries retained its position as the most valuable company in terms of market capitalisation.
After that, TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, LIC, Hindustan Unilever and ITC were ranked respectively.
Saraswati Saree Depot IPO: Allotment finalized, know GMP before listing
.png)
.png)
0 Comments