BSE Market Cap Hits Record High of Rs 434.9 Lakh Crore
Jun 14, 2024 17:32
The market capitalisation of BSE-listed firms reached a new peak of Rs 434.88 lakh crore on Friday, driven by a rally in the Sensex and Nifty. Investors' wealth has increased by Rs 7.93 lakh crore in three days.
New Delhi, Jun 14 (PTI) The market capitalisation of BSE-listed firms hit another record high of Rs 434.88 lakh crore on Friday as the BSE benchmark scaled new closing peak, rallying for the third day running.
Rising for the third straight session, the 30-share BSE Sensex climbed 181.87 points, or 0.24 per cent, to settle at a new closing peak of 76,992.77. During the day, it jumped 270.4 points, or 0.35 per cent, to 77,081.30.
The NSE Nifty rallied 66.70 points, or 0.29 per cent, to hit a record closing high of 23,465.60. Intra-day, it climbed 91.5 points, or 0.39 per cent, to hit a fresh all-time high of 23,490.40.
Following the rally in equities, the market capitalisation of BSE-listed companies hit a fresh all-time high of Rs 4,34,88,147.51 crore (USD 5.21 trillion). In three days of rally, investors' wealth has gone up Rs 7.93 lakh crore.
"The positive undertone of the market helped benchmark Nifty scale new highs and inch closer towards the 23,500-mark as cautious investors continued with their select buying approach in key frontline stocks.
"However, midcap and smallcap stocks have been seeing renewed buying interest with large-cap stocks facing higher valuation hurdles," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Among the 30 Sensex companies, Mahindra & Mahindra, Titan, HDFC Bank, Reliance Industries, UltraTech Cement, Bajaj Finance, Axis Bank, Tata Motors, and Asian Paints were the biggest gainers.
On the other hand, Tech Mahindra, Tata Consultancy Services, Wipro, HCL Technologies, Larsen & Toubro, and State Bank of India were among the major laggards.
In the broader market, the BSE midcap gauge jumped 1.18 per cent and smallcap index climbed 1.03 per cent.
Among indices, industrials jumped 1.68 per cent, capital goods (1.62 per cent), telecommunication (1.31 per cent), auto (1.26 per cent), consumer discretionary (1.15 per cent) and realty (0.94 per cent).
IT and teck were the laggards.
On the weekly front, the BSE benchmark climbed 299.41 points, or 0.39 per cent, while the Nifty advanced 175.45 points, or 0.75 per cent.
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