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BSE-listed firms' market valuation touches record high of Rs 298.21 lakh crore

06:34 PM Jul 03, 2023 | PTI |

New Delhi: The market capitalisation of BSE-listed firms reached a record high of Rs 298.21 lakh crore on Monday as the benchmark Sensex ended above the 65,000-mark for the first time ever amid bullish investor sentiments.

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The benchmark index jumped 486.49 points or 0.75 per cent to settle at its all-time closing high of 65,205.05 points.

During the day, the benchmark rallied 581.79 points or 0.89 per cent to scale its record intra-day peak of 65,300.35 points.

Sensex rallied for the fourth straight trading session on Monday.

Thanks to the ongoing record-breaking rally in equities, the market capitalisation (mcap) of BSE-listed companies jumped to Rs 2,98,21,576.81 crore.

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Investors’ wealth have gone up by Rs 7.54 lakh crore in fours days of market rally.

On Friday, the market capitalisation of BSE-listed firms touched an all-time high of Rs 296.48 lakh crore.

From the Sensex pack, Reliance Industries was the biggest gainer, climbing 2.53 per cent, followed by ITC, Bajaj Finance, State Bank of India, HDFC, UltraTech Cement, NTPC, HDFC Bank, Mahindra & Mahindra, Tata Steel, Bajaj Finserv and ICICI Bank.

Power Grid, Maruti, Larsen & Toubro, Tata Consultancy Services, Nestle, Tech Mahindra and Tata Motors were among the laggards, falling up to 1.86 per cent.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the green.

Equity markets in Europe were trading in the positive territory. The US markets ended significantly higher on Friday.

“India is truly standing out and performing better than most global peers, with another record highs from benchmark Sensex, Nifty and Bank Nifty. Now, Nifty is showing lots of resilience, indicating all bullish trends inching towards the 20k mark in the medium term.

“The mood in the frontline market is very optimistic looking at the aggressive FII inflows and settling down of global macro headwinds followed by better-than-strong domestic micro economic data,” Rakeshh Mehta, chairman of Mehta Equities Ltd, said.

Foreign Portfolio Investors (FPIs) bought equities worth Rs 6,397.13 crore on Friday, according to exchange data.
FPIs have pumped Rs 47,148 crore into Indian equities in June, making it the highest inflow in 10 months.

GST collections crossed Rs 1.60 lakh crore mark for the fourth time since the roll-out of the indirect tax regime, rising 12 per cent to over Rs 1.61 lakh crore in June, as per official data.

In the broader market, the BSE smallcap gauge climbed 0.56 per cent and the midcap index advanced 0.30 per cent.

Among the indices, oil & gas jumped 2.28 per cent, energy rallied 2.08 per cent, metal (1.11 per cent), FMCG (1.09 per cent), financial services (1.02 per cent), realty (0.85 per cent), commodities (0.81 per cent) and bankex (0.78 per cent).

Capital goods, auto, IT, teck, power and industrials were among the laggards.

The BSE benchmark had jumped 803.14 points or 1.26 per cent to settle at its life time closing high of 64,718.56 points on Friday. The Nifty climbed 216.95 points or 1.14 per cent to end at a record high of 19,189.05 points.

“The market’s record breaking momentum continued as the robust June GST collections, and the monsoon covering most parts of the country in the last few days brought cheers to investors.

“The rally has been mostly due to strong foreign fund inflows and India performing well on most of the economic parameters could further strengthen the fund flows in the near term,” Shrikant Chouhan, Head of Research (Retail) at Kotak Securities Ltd, said.

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