BSE Market Cap Hits All-Time High, Investors Gain ₹3.34 Lakh Cr
Feb 02, 2024 18:15
Indian stock market witnessed a surge on Friday with the BSE Sensex closing at 72,085.63. The market capitalization of BSE-listed firms reached a record high, boosting investor wealth by ₹3.34 lakh crore.
Photograph: ANI Photo
New Delhi, Feb 2 (PTI) Investors became richer by Rs 3.34 lakh crore on Friday as the market capitalisation of BSE-listed firms reached an all-time high amid buoyant investor sentiments.
The 30-share BSE Sensex climbed 440.33 points, or 0.61 per cent, to settle at 72,085.63. During the day, it zoomed 1,444.1 points, or 2 per cent, to 73,089.40.
The market capitalisation (mcap) of BSE-listed companies went up Rs 3,34,413.44 crore to reach its all-time high of Rs 3,82,76,857.79 crore.
"A conservative interim Budget had no slowdown effect on the market, which continued to grow on the pre-election rally. The drastic fall in the fiscal deficit target is leading to a reduction in bond yields, which will lead to lowering of corporate borrowing costs, increasing incentives to step up investment," said Vinod Nair, Head of Research, Geojit Financial Services.
Among the Sensex firms, Power Grid, NTPC, Tata Consultancy Services, Tata Steel, JSW Steel, Wipro, Infosys, Reliance Industries, Tech Mahindra, and Bajaj Finserv were the major gainers.
Axis Bank, HDFC Bank, Hindustan Unilever, ITC, and Larsen & Toubro were among the laggards.
In the broader market, the BSE midcap gauge jumped 0.80 per cent and smallcap index climbed 0.49 per cent.
Among the indices, oil & gas jumped 4.22 per cent, energy went up 3.44 per cent, metal (2.95 per cent), services (2.22 per cent), utilities (2.18 per cent), IT (2.17 per cent) and power (1.81 per cent).
Financial services, FMCG, telecommunication, and bankex were the laggards.
On a weekly basis, the BSE benchmark jumped 1,384.96 points, or 1.95 per cent.
In Asian markets, Seoul and Tokyo settled in the positive territory while Shanghai and Hong Kong ended in the red.
European markets were trading in the green. The US markets ended with significant gains on Thursday.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.