INSUBCONTINENT EXCLUSIVE:
Investors on Dalal Street became richer by nearly Rs 15 lakh crore in just 40 trading session, as sustained buying in largecap stocks as
well as fund inflows by domestic institutional investors supported market sentiment.
The total market capitalisation of all the BSE-listed
firms soared to around Rs 159 lakh crore on August 28 from Rs 144 lakh crore on July 2
However, falling rupee, US-China trade war concern and weakness in emerging market currencies kept market participants cautious.
Benchmark
equity index BSE Sensex closed at a fresh record high on Tuesday, while the NSE Nifty index ended above the 11,700-mark for the first time
inching towards 12,000 and medium to long-term, we are very bullish on the market and as well as the economy
But yes, there will be short-term jerks coming in betw een
Reliance Industries added over Rs 2.25 lakh crore to its market capitalisation during the period
Share price of the company jumped 37 per cent to Rs 1,318.20 on August 28 from Rs 961.10 on July 2
ITC (Rs 59,890), State Bank of India (Rs 40,919), ICICI Bank (Rs 39,591), Axis Bank (Rs 38,027 crore), Bajaj Finance (Rs 36,788 crore) were
among other top grossers in terms of m-cap
Also, market capitalisation of HDFC Bank, HUL, ONGC, Coal India, Bandhan Bank, Indiabulls Ventures, Infosys, Bajaj Finserv, Dabur Maruti
Ultratech Cement, HCL Technologies, Wipro, Nestle India, Larsen Toubro, Godrej Consumer Products, Sun Pharma, JSW Steel, NTPC, Havells,
Piramal Enterprises, MM, HDFC, Asian Paints and Shree Cement increased by over Rs 10,000 crore during the period.
In terms of share price,
companies such as Adani Power, Adani Green Energy, SORIL Infra Resources, Adani Enterprises more than doubled investors wealth during July
Other names including Atlas Jewellery Sharp India, Tiaan Ayurvedic Herbs, Alora Trading Company, Sawaca Business Machines, Birla Cable,
Danube Industries, Sport King India, SPL Industries, Gangotri Textiles, Zenlabs Ethica, Diamines Chemicals and MM Rubber rallied 100-191
per cent.
All the sectoral indices on the BSE moved northwards since July 2 with FMCG index rallying 13 per cent, followed by Oil Gas (up
11 per cent), Healthcare (up 11 per cent), Power (up 10 per cent), Bankex (up 9 per cent), IT (9 per cent)
remain confident that rural demand will pick up in the coming quarters
With government focusing on cleaning up the banking sector there may some short-term pressure on banking names, but the worst is
Stocks such as HDFC Bank and RBL Bank remain among preferred picks
He also believes that market will continue to be volatile in the short term on the back of global fund inflows and general elections in 2019
Realty index also rallied up to 8 per cent during the past 40 trading sessions.
Foreign portfolio investors have poured over Rs 4,000 crore
in domestic equity markets since July this year
However, they offloaded shares worth Rs 6,000 during the first half of 2018
On the other hand, net investment of domestic institutional investors stood over Rs 71,000 crore on YtD basis.
For investment perspective,
global brokerage CLSA has recommended few largecap stocks for investors
The financial services firm sees value in HDFC (target price: Rs 2,480), IndusInd Bank (Rs 1975.95), Infosys (Rs 1,560), ITC (Rs 390),
Mahindra Mahindra (Rs 1,120), Maruti Suzuki (Rs 11,300) and Sun Pharma (Rs 750).
