The combined market capitalisation (m-cap)
of seven Sensex companies increased by Rs 30,862 crore last week, with
TCS and ITC emerging as the biggest gainers. While the market valuation
of TCS, Reliance Industries, ITC, ONGC, State Bank of India, ICICI Bank
and Wipro rose, that of Coal India, Infosys and HDFC Bank declined.
TCS surged by Rs 10,529 crore to Rs 4,34,338 crore, the biggest gainer
among the top-10 Sensex companies. India's largest software services
exporter posted a 48.2 per cent jump in net profit to Rs 5,358 crore in
the fourth quarter. The market value of ITC jumped Rs 7,436 crore to Rs
2,80,906 crore, while Wipro added Rs 4,349 crore to Rs 1,44,423 crore
in valuation. ICICI Bank's m-cap rose by Rs 3,066 crore to Rs 1,45,747
crore, while the value of RIL went up by Rs 1,932 crore to Rs 3,09,883
crore and ONGC added Rs 1,796 crore to Rs 2,75,700 crore. State Bank
added Rs 1,754 crore in m-cap to Rs 1,50,643 crore. HDFC Bank's value
declined by Rs 4,630 crore to Rs 1,72,383 crore, while Infosys lost Rs
2,639 crore to Rs 1,83,175 crore. Infosys last week reported a 25 per
cent rise in consolidated net profit for the quarter ended March 31. The
country's second-largest software services exporter said it expects 7-9
per cent US dollar revenue growth in 2014-15, below industry body
Nasscom's projection of 13-15 per cent. Coal India's m-cap went down by
Rs 1,358 crore to Rs 1,83,743 crore. TCS remained on top of the
domestic market capitalisation chart, followed by RIL, ITC, ONGC, Coal
India, Infosys, HDFC Bank, State Bank, ICICI Bank and Wipro. The
benchmark 30-share BSE Sensex fell 0.12 points to end the week at
22,628.84.
FIIs invest Rs 6,783 crore in April
Foreign investors have
pumped in about Rs 6,800 crore (USD 1.3 billion) in the domestic stock market
so far this month on hopes a reform-oriented government will be formed after
the general elections. Total investment by foreign institutional investors
(FIIs) in equities since January 2014 has risen to about Rs 28,979 crore (USD
4.78 billion). "FIIs are bullish on India...They are expecting a stable
government emerging post-elections, which will take various reformist
measures," said Puneet Chaddha, Chief Executive Officer of HSBC Asset
Management (India) Private Ltd. "Besides, FIIs are also betting on India
because of the country's macro-economic fundamentals." FIIs were gross
buyers of shares worth Rs 49,775 crore and sellers of stocks to the tune of Rs
42,992 crore in the week ended April 17, resulting in a net inflow of Rs 6,783
crore (USD 1.3 billion), according to the Securities and Exchange Board of
India. Foreign investors, however, pulled out Rs 4,282 crore from the debt
market during the period. FIIs, the main driver of the equity market, have
helped pushed up the benchmark BSE Sensex by 243 points, or 1.08 per cent, so
far this month. They invested Rs 20,077 crore in Indian stocks in March,
compared with Rs 1,404 crore in February and Rs 714 crore in January. As of
April 17, there were 1,715 registered FIIs in the country and 6,391
sub-accounts.
Bourses cash turnover rises 2.59%
Cash turnover on the
nation's three stock exchanges -- NSE, BSE and MCX-SX -- rose 2.59 per cent to
Rs 33.41 lakh crore in 2013-14 from a year earlier on account of improvement in
the global and domestic economy. Trading of equity derivatives on the three
exchanges surged 20.32 per cent to Rs 466 lakh crore in 2013-14 from the
preceding financial year. A turnover of Rs 32.57 lakh crore was recorded in the
cash segment in 2012-13, according to data with the Securities and Exchange
Board of India and the stock exchanges. The National Stock Exchange of India
(NSE) alone accounted for 84 per cent of the cash market turnover with its
share rising 3.7 per cent to Rs 28.08 lakh crore in 2013-14. On the BSE, the
turnover declined almost 5 per cent to Rs 5.21 lakh crore from Rs 5.48 lakh
crore in the previous year. The MCX Stock Exchange Ltd (MCX-SX), which started
operating as a full-fledged bourse in February last year, saw trades of Rs
11,183 crore in its cash segment during 2013-14. According to experts,
improvements visible in global economic conditions lifted the mood among
investors in the domestic securities market. Turnover in equity derivative
trading rose to about Rs 466 lakh crore on the three exchanges in 2013-14 from
Rs 387 lakh crore in the previous year. A total of 159 crore derivative
contracts were traded on the exchanges compared with volumes of 139.4 crore in
2012-13. The NSE had an 82 per cent share of derivative trades, with a turnover
of Rs 382 lakh crore. Derivative turnover on the BSE and MCX-SX stood at Rs 82.19
lakh crore and Rs 1.40 lakh crore, respectively.
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