BSE Market Valuation Hits Record High of Rs 337.67 Lakh Crore

New Delhi, Dec 1 (PTI) The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 337.67 lakh crore (USD 4 trillion) on Friday amid a rally in equities, mainly on account of favourable macroeconomic data and continuous foreign fund inflows.

Rising for the fourth straight day, the 30-share BSE Sensex jumped 492.75 points or 0.74 per cent to settle at 67,481.19 points. During the day, it rallied 575.89 points or 0.85 per cent to 67,564.33 points.

In four days, the benchmark index has surged 1,511.15 points or 2.29 per cent.

Amid the optimistic trend in equities, the market capitalisation of BSE-listed firms soared to Rs 337.67 lakh crore, translating to USD 4 trillion at the exchange rate of 83.30.

In four days of the market rally, investors' wealth have gone up by Rs 8.95 lakh crore.

The combined market valuation of all listed companies on the BSE reached the USD 4 trillion-milestone for the first time ever on Wednesday.

The 30-share benchmark hit its all-time peak of 67,927.23 points on September 15 this year.

Globally, the other markets valued more than USD 4 trillion in terms of valuation include the US, China, Japan and Hong Kong.

On Friday, the Nifty climbed 134.75 points or 0.67 per cent to settle at an all-time closing high of 20,267.90 points. During the day, the benchmark touched its intra-day record high of 20,291.55 points, up 158.4 points or 0.78 per cent.

"Frenzied buying on the back of renewed optimism from FIIs and positive European market cues lifted benchmark Nifty to a fresh record high.

"India remains a bright spot in an uncertain global economy as the recent data indicators such as strong GDP and manufacturing numbers along with external factors like falling US bond yields are keeping markets in good stead," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.

India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the September quarter on booster shots from government spending and manufacturing.

According to a monthly survey released on Friday, India's manufacturing sector continued with its robust performance in November, mainly on the back of substantial easing in price pressures and strengthening demand from clients.