Market capitalisation of BSE-listed firms hits record high of Rs 331 lakh crore, nearly reaching USD 4 trillion
By Pierre Herubel
On Tuesday, the combined market capitalisation of BSE-listed companies reached an all-time high of Rs 331 lakh crore, coming very close to entering the exclusive USD 4 trillion club. This surge was driven by a late recovery in the equity market following a highly volatile trade.
Back on May 24th of this year, the market capitalisation of all listed companies on the BSE had already touched the USD 3 trillion mark. The 30-share BSE benchmark Sensex also hit its all-time high on September 15th, reaching 67,927.23.
So far in 2021, the BSE benchmark Sensex has increased by 5,333.46 points, or 8.76 percent. Additionally, the market capitalisation of all listed companies on its platform has seen a significant rise of Rs 48.67 lakh crore.
On Tuesday, the 30-share BSE Sensex settled at 66,174.20, climbing by 204.16 points or 0.31 percent. Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., attributed the market’s gains to an uptick in power, metal, and auto stocks, as well as the strengthening of hopes for strong growth momentum and the diminishing worries of rate hikes in the US. Tapse also noted the positive impact of FIIs becoming net buyers of local equities in the last few sessions.
Looking at individual companies, Tata Motors, Bajaj Finserv, UltraTech Cement, Bajaj Finance, NTPC, Bharti Airtel, Titan, and Axis Bank were among the major gainers, while ITC, ICICI Bank, Power Grid, and HDFC Bank lagged behind.
In the broader market, the BSE midcap gauge increased by 0.30 percent, while the smallcap index saw a marginal gain of 0.06 percent. Notable sector gains were seen in utilities (3.64 percent), power (3.47 percent), oil & gas (3.13 percent), and energy (2.27 percent), while FMCG, industrials, telecommunication, and capital goods were among the laggards.
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