Now Reading: Market cap of four top-10 firms rises Rs 1.43 lakh crore
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Market cap of four top-10 firms rises Rs 1.43 lakh crore
The combined market valuation of four of the top-10 most valued Indian firms jumped Rs 1.43 lakh crore last week, with State Bank of India adding the most, according to PTI. Reliance…
The Story in Brief
The combined market valuation of four of the top-10 most valued Indian firms jumped Rs 1.43 lakh crore last week, with State Bank of India adding the most, according to PTI. Reliance Industries, TCS and L&T also gained, while Bharti Airtel, HDFC Bank and ICICI Bank saw erosion.
Indian benchmarks posted small weekly gains despite volatility. The Sensex rose 0.52% and the Nifty 0.77%, as investors assessed a new trading framework, RBI's policy, and geopolitical tensions. In the coming week, investors will watch Q1 results from firms such as Tata Motors and HAL, July CPI data on August 12, and developments in the US-Iran conflict and crude oil prices. FIIs turned net buyers on Friday after a brief selling spell.
The Indian Opinion
The coverage focuses on analyst buy calls and a list of triggers, but the real test for the market is whether the Nifty can decisively break above 24,800. The overbought conditions on weekly charts suggest consolidation or profit booking is likely. The narrative that Indian markets are resilient to geopolitical shocks is one-sided: crude oil price swings and FII flows show vulnerability. The July CPI inflation number on August 12 will be the key data point. If inflation stays above the RBI's comfort zone, rate cut expectations may be dashed. Will the Nifty hold its 24,300 support if profit booking intensifies?
Sources (4): livemint.com, livemint.com (2), livemint.com (3), thehindubusinessline.com
This story was synthesised by AI from the 4 sources linked above.
Updated: this story now draws on 4 sources.
