Market Capitalisation Reaches All-Time High
The combined market capitalisation of BSE-listed firms reached an all-time high of Rs 331 lakh crore on Tuesday, coming very close to entering the prestigious USD 4-trillion club. The market capitalisation of BSE-listed companies hit Rs 3,31,05,425.71 crore at the end of trade, equivalent to USD 3.97 trillion at the current exchange rate of 83.34, thanks to a fag-end recovery in the equity market following a highly volatile trade.
On May 24, 2021, the market capitalisation of all listed companies on the BSE touched the USD 3-trillion mark. The 30-share BSE benchmark Sensex hit its all-time peak of 67,927.23 on September 15 of this year.
The BSE benchmark Sensex has seen a 5,333.46 point rally, or 8.76 per cent, so far this year, and the market capitalisation of all listed firms on its platform has increased by Rs 48.67 lakh crore. The Sensex climbed 204.16 points or 0.31 per cent to settle at 66,174.20 on Tuesday.
According to Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, “After last week’s range-bound trend, markets registered gains led by uptick in power, metal and auto stocks as hopes of strong growth momentum going ahead and receding worries of rate hikes in the US strengthened the mood.”
Tapse added, “FIIs turning net buyers of local equities in the last few sessions too has brought some cheers to the market, even as caution could prevail in next few sessions ahead of monthly F&O expiry and exit poll results of five state elections later this week.”
Tata Motors, Bajaj Finserv, UltraTech Cement, Bajaj Finance, NTPC, Bharti Airtel, Titan and Axis Bank were among the major gainers among the Sensex firms, while ITC, ICICI Bank, Power Grid and HDFC Bank were among the laggards.
In the broader market, the BSE midcap gauge climbed 0.30 per cent, and the smallcap index gained marginally by 0.06 per cent. Among the indices, utilities rallied 3.64 per cent, power jumped 3.47 per cent, oil & gas climbed 3.13 per cent, energy by 2.27 per cent, services by 2.02 per cent, commodities by 1.27 per cent, and metal by 1.13 per cent. FMCG, industrials, telecommunication, and capital goods were the laggards.
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