BSE Market Cap Hits Record High: Sensex Breaches 80,000
Jul 03, 2024 17:38
The market capitalisation of BSE-listed firms reached an all-time high of Rs 445.43 lakh crore, driven by a strong rally in equities, with the Sensex crossing the historic 80,000 mark.
New Delhi, Jul 3 (PTI) The market capitalisation of BSE-listed firms hit a record high of Rs 445.43 lakh crore on Wednesday, driven by a sharp rally in equities, where the benchmark Sensex breached the historic 80,000-mark for the first time ever.
The 30-share Sensex hit the historic 80,000-mark for the first time earlier in the day. It surged 632.85 points, or 0.79 per cent, to hit a record intra-day high of 80,074.30. The benchmark later ended near the 80,000-level at 79,986.80, up 545.35 points, or 0.69 per cent.
The market capitalisation (mcap) of BSE-listed firms hit a record peak of Rs 4,45,43,642.29 crore (USD 5.33 trillion).
The BSE Sensex breached the 78,000 level on June 25 and 79,000 for the first time on June 27.
"Markets continued their ongoing streak of making new highs supported by firm global trends. Nifty crossed the 24,300 mark while Sensex breached the historic 80,000 mark amid buying in banking stocks," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Among the Sensex pack, Adani Ports, Kotak Mahindra Bank, HDFC Bank, Axis Bank, IndusInd Bank, State Bank of India, Power Grid, JSW Steel, Bajaj Finance and Tata Steel were the biggest gainers.
Tata Consultancy Services, Titan, Reliance Industries, Tata Motors and Larsen & Toubro were the laggards.
"While the record-breaking spree continued on the bourses, benchmark Sensex breached the 80K-mark for the first time in intra-day trade, primarily fuelled by upsurge in banking stocks. Optimism in global equities weighed positively on Indian markets, which also propelled gains in other sectoral stocks, including the telecom counters," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
In the broader market, the BSE midcap gauge jumped 0.86 per cent and the smallcap index climbed 0.86 per cent.
Among the indices, bankex rallied 1.75 per cent, financial services jumped 1.55 per cent.
Telecommunication (1.44 per cent), services (1.18 per cent), industrials (1.09 per cent), and FMCG (0.81 per cent) were also among gainers.
A total of 2,355 stocks advanced while 1,566 declined and 100 remained unchanged.
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