AHMEDABAD: Amid high volatility, rising inflation forecast and the recent second rate hike by the Reserve Bank of India (RBI), the Indian equity markets witnessed a sharp correction on Friday. BSE Sensex It closed 1,016.34 points lower at 54,303.44. However, despite the sharp improvement, some Gujarat The market capitalization of companies increased with an increase of Rs 3.51 lakh crore from the peak of October 19, 2021.
Adani Group companies, including Adani Enterprises Limited, Adani PowerGujarat Fluorochemicals Limited along with Adani Green Energy and Adani Total Gas were among the companies that registered the highest growth in market capitalization. Others that did well were PSUs GNFC, GSFC, GMDC, and . Were AIA Engineering,
“Gujarat-based companies showed tremendous growth in the last year, as most large corporations here are in the energy sector. Stocks in the energy, oil and gas sectors outperformed the rest on the back of higher demand and prices. Hence, even though Market indices declined, companies here were able to sustain growth.” Hitesh SomaniSenior Technical Research Specialist.
The total market capitalization of BSE-listed companies stood at a record high of Rs 274.70 lakh crore on October 19, 2021, when the markets touched their all-time high. However, due to continued selling pressure, the m-cap fell to Rs 252.10 lakh crore.
“High inflation, rising interest rates and the Russia-Ukraine war have created high volatility in global markets. Since October 2021, FIIs have sold over Rs 3 lakh crore from Indian equities. Still, Gujarat-based companies have sold others. Has performed better,” Somani said. Nifty and Sensex have fallen nearly 12% since their October 19, 2021 peak and Bank Nifty is down over 13%. “The overall market capitalization of listed companies has come down by 8%. This indicates that some stocks which are not in the Sensex and Nifty baskets have also done well in such situations,” said a city-based analyst.
Adani Group companies, including Adani Enterprises Limited, Adani PowerGujarat Fluorochemicals Limited along with Adani Green Energy and Adani Total Gas were among the companies that registered the highest growth in market capitalization. Others that did well were PSUs GNFC, GSFC, GMDC, and . Were AIA Engineering,
“Gujarat-based companies showed tremendous growth in the last year, as most large corporations here are in the energy sector. Stocks in the energy, oil and gas sectors outperformed the rest on the back of higher demand and prices. Hence, even though Market indices declined, companies here were able to sustain growth.” Hitesh SomaniSenior Technical Research Specialist.
The total market capitalization of BSE-listed companies stood at a record high of Rs 274.70 lakh crore on October 19, 2021, when the markets touched their all-time high. However, due to continued selling pressure, the m-cap fell to Rs 252.10 lakh crore.
“High inflation, rising interest rates and the Russia-Ukraine war have created high volatility in global markets. Since October 2021, FIIs have sold over Rs 3 lakh crore from Indian equities. Still, Gujarat-based companies have sold others. Has performed better,” Somani said. Nifty and Sensex have fallen nearly 12% since their October 19, 2021 peak and Bank Nifty is down over 13%. “The overall market capitalization of listed companies has come down by 8%. This indicates that some stocks which are not in the Sensex and Nifty baskets have also done well in such situations,” said a city-based analyst.