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The combined <keyword id="20097096" type="General" weightage="20" keywordseo="market-valuation" source="keywords">market valuation</keyword> of eight of the top-10 most valued firms jumped Rs 2,10,330.26 crore in a holiday-shorted last week, with Tata Consultancy Services (<keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords">TCS</keyword>) and Life Insurance Corporation of India emerging as the biggest gainers. Last week, the BSE benchmark climbed 85.31 points or 0.10 per cent. The 30-share BSE Sensex hit its new all-time high of 81,587.76 on Friday. Stock markets were closed on Wednesday on account of Muharram. From the top-10 group, the valuation of TCS zoomed Rs 42,639.16 crore to Rs 15,56,772.61 crore. The market capitalisation (mcap) of Life Insurance Corporation of India (<keyword id="19903588" type="General" weightage="20" keywordseo="LIC" source="keywords">LIC</keyword>) surged Rs 36,748.23 crore to Rs 7,01,695.24 crore. <keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> added Rs 33,569.16 crore, taking its valuation to Rs 7,44,396.43 crore, while <keyword id="19934368" type="General" weightage="20" keywordseo="State-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="State Bank of India" meta.hostid="261" meta.entityid="State Bank of India">State Bank of India</keyword>'s mcap climbed Rs 26,372.23 crore to Rs 7,93,576.49 crore. <keyword id="20002610" type="General" weightage="20" keywordseo="Hindustan-Unilever" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindustan Unilever" meta.hostid="261" meta.entityid="Hindustan Unilever">Hindustan Unilever</keyword>'s mcap soared Rs 24,494.49 crore to Rs 6,40,651.30 crore, and that of ITC jumped Rs 19,420.52 crore to Rs 5,92,679.30 crore. The market valuation of <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> went up by Rs 16,223.03 crore to Rs 8,31,928.39 crore, and that of <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> climbed Rs 10,863.44 crore to Rs 8,78,531.60 crore. However, the market valuation of <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> diminished by Rs 56,799.01 crore to Rs 21,03,829.74 crore. The mcap of HDFC Bank declined by Rs 13,124.01 crore to Rs 12,22,701.34 crore. In the top-10 table, Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.

Mcap of 8 of top-10 most valued firms jumps Rs 2.10 lakh crore; TCS and LIC sparkle

<ul><li>Equity benchmark indices <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> declined in early trade on Thursday.</li><li><keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> and others declined in early trade.</li><li>JSW Steel, Tata Steel, Sun Pharma and NTPC were among the gainers.</li></ul>Equity benchmark indices Sensex and Nifty tanked in early trade on Thursday, dragged by a decline in heavyweight stocks Reliance Industries, HDFC Bank, ICICI Bank and spiralling conflict in the Middle East. The BSE Sensex tumbled 1,264.2 points to 83,002.09 in early trade. The NSE Nifty slumped 345.3 points to 25,451.60. From the 30 Sensex firms, Tata Motors, Asian Paints, Larsen &amp; Toubro, Axis Bank, Mahindra &amp; Mahindra, Reliance Industries, Maruti, Kotak Mahindra Bank, ICICI Bank and HDFC Bank were the major laggards. JSW Steel, Tata Steel, Sun Pharma and NTPC were among the gainers. "India is seeing strong FII net outflows and needs to do more on the policy front to make expensive markets attractive to global capital flows. RBI MPC meets next week but is expected to stay conservative. At best, we can expect a policy stance change to a more dovish outlook. Things are not rosy for Indian markets, but the primary market frenzy continues unabated. Caution amid volatility,” said Ajay Bagga, Banking and Market Expert. Experts highlighted that globally, markets are witnessing a shift after the Fed rate cut announcements, rising geopolitical tensions and foreign investors are pulling money out of Indian markets to invest in other markets like China are other reasons for selling pressure. In Asian markets, Hong Kong traded lower while Tokyo quoted in the positive territory. Markets in mainland China will be closed for the rest of the week due to the holiday. The US markets ended marginally higher on Wednesday. Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,579.35 crore on Tuesday, according to exchange data. Global oil benchmark Brent crude climbed 1.15 per cent to $74.75 a barrel. "In Tuesday's trade, FIIs were net sellers of ₹5,579 crore, while crude oil prices surged above $70 per barrel amid escalating tensions in the Middle East," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. The BSE benchmark dipped 33.49 points or 0.04 per cent to settle at 84,266.29 on Tuesday. The Nifty ended marginally lower by 13.95 points or 0.05 per cent to 25,796.90. Equity markets were closed on Wednesday for Mahatma Gandhi Jayanti. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/bmw-ce-02-electric-scooter-launched-in-india-at-4-50-lakh/articleshow/113849708.cms">BMW CE 02 electric scooter launched in India at ₹4.50 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a>

Sensex, Nifty slump in early trade as Middle East conflict deepens

<keyword id="19900795" type="General" weightage="20" keywordseo="foreign-investors" source="keywords">Foreign investors</keyword> are currently making a beeline for <keyword id="19894886" type="General" weightage="100" keywordseo="China" source="keywords">China</keyword>, enthused by the gush of <keyword id="23496485" type="General" weightage="20" keywordseo="financial-stimulus" source="keywords">financial stimulus</keyword> injected by the government into the Chinese economy. While this may have temporarily sent their stock markets soaring, a recent report by the <keyword id="19899824" type="General" weightage="20" keywordseo="World-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="World Bank" meta.hostid="261" meta.entityid="World Bank">World Bank</keyword> notes that this might not be enough to push back the <keyword id="19904090" type="General" weightage="20" keywordseo="economic-slowdown" source="keywords">economic slowdown</keyword> that has already set in. China's growth rate is projected to slack further to 4.3% in 2025, down from its present rate of 4.8%. The <keyword id="19916574" type="General" weightage="20" keywordseo="OECD" source="keywords" meta.keywordsubtype="org" meta.entityname="OECD" meta.hostid="261" meta.entityid="OECD">OECD</keyword> also expects the country's growth to slow down to 4.5% in 2025 Experts believe that the recent economic push by the government, which includes lowering reserve requirement ratio (RRR) by 0.5% to 6.6%, lowering mortgage rates, injecting $142 billion into banks, among others, are too little to sustain long-term recovery. Notably, lowering RRR frees up $140 billion for banks to lend, while reducing mortgages and minimum down payments for housing purchases are directed to spur up the Chinese real estate segment. Per <keyword id="19906485" type="General" weightage="20" keywordseo="Goldman-Sachs" source="keywords" meta.keywordsubtype="org" meta.entityname="Goldman Sachs" meta.hostid="261" meta.entityid="Goldman Sachs">Goldman Sachs</keyword>, weak domestic demand, dwindling consumer confidence and spending and an endless real-estate crisis are some of the main reasons for the slowdown.The average Chinese citizen still grapples with job insecurity, stagnant salaries, and depreciating real estate and equity values. For instance, China's last public holiday of the year, the Golden Week, which ended on October 7 and commemorates the nation's founding, saw 2% less spending per domestic trip, as compared to pre-pandemic levels. "Low tourism spending per head and subdued services prices highlight the still weak domestic demand and continued consumption downgrading in the country,” the analysts at GS noted. <h2>Its all temporary</h2>The <keyword id="21360606" type="General" weightage="20" keywordseo="Hang-Seng-index" source="keywords">Hang Seng index</keyword>, which is up by 4.22% today, has been seeing a meteoric rise over the past few weeks. Inching up by a little over 24% over the last month, the Chinese markets have been seeing an significant influx of foreign investment, largely at the expense of other emerging markets like India. Foreign investors had offloaded shares worth Rs 27,142 crore between the first and third of this month, after foreign investments reached a staggering record-high of Rs 93,538 crore in September, as per NSDL data. Over the last 10 days, FIIs have constantly been net sellers, while DIIs have been net buyers. As of October 10th, DII (Domestic Institutional Investors) have put in Rs 50,183 crores in Indian markets, almost balancing out Rs 49,305.29 crore withdrawn by foreign investors. But whether this trend of FII inflow in China continues will largely depend on the fundamentals their economy, an area where India has an edge, thanks to strong confidence of domestic investors. Viram Shah, CEO of Vested Finance highlights that while the Hang Seng index's recent 26% surge over the last month has caught investors' attention, and while this bullish trend is expected to continue, driven by low Chinese stock valuations and hopes for economic improvement from government stimulus, there lies a long road ahead. "Foreign Portfolio Investors (FPIs) pulled out $5.4 billion from Indian equities over five consecutive sessions, ending Monday, October 7. While this suggests a possible rotation of funds from India to China, how long this shift will last will depend on the Chinese government’s ability to resolve the structural economic issues. While the market rally is encouraging, more policy steps are needed to boost economic activity and confidence in China", he added.

All eyes on China: Rush of foreign investors can do little to stave off a slowdown, says World Bank

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Mcap of 8 of top-10 most valued firms jumps Rs 2.10 lakh crore; TCS and LIC sparkle

PTI

Sensex, Nifty slump in early trade as Middle East conflict deepens

BI India Bureau

All eyes on China: Rush of foreign investors can do little to stave off a slowdown, says World Bank

Ira Alok Puranik

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