The market capitalisation of BSE-listed firms reached an all-time high of Rs 301.70 lakh crore on Thursday, reflecting the positive trend in domestic equities, with the benchmark Sensex index closing at a new record level. The following day, investors’ wealth rose by Rs 1.80 lakh crore, driven by a rally in equities.
The 30-share BSE Sensex surged by 339.60 points or 0.52 per cent, closing at a new all-time high of 65,785.64. Throughout the day, the benchmark witnessed a rally of 386.94 points or 0.59 per cent, hitting a lifetime intra-day peak of 65,832.98.
In real terms, the Mcap of BSE-listed firms soared to a new record high of Rs 3,01,70,635.89 crore, supported by the BSE benchmark’s remarkable rally of over 2,500 points between June 26 and July 4.
The benchmark index had dipped 33.01 points or 0.05 per cent to settle at 65,446.04 on Wednesday, taking a breather from the record rally.
On Wednesday, the market capitalisation (mcap) of BSE-listed firms stood at Rs 299.90 lakh crore. Notably, BSE firms had previously achieved the significant milestone of Rs 200 lakh crore in market valuation on February 4, 2021, and had crossed the Rs 100 lakh crore mark on November 28, 2014.
On the 30-share Sensex platform, M&M, PowerGrid, Tata Motors, Reliance, NTPC, and Axis Bank were among the gainers. On the downside, Maruti, HCL, Bajaj Finance, IndusInd Bank, ITC, and Tata Steel emerged as losers.
According to exchange data, Foreign Institutional Investors (FIIs) continued their buying activity as they bought equities worth Rs 1,603.15 crore on Wednesday.
“While several Asian and European markets languished in negative territory, our benchmark indices notched up impressive gains and hit fresh highs on broad-based buying. While economic indicators remain on sound footing, the market is looking forward to optimism in corporate earnings,” Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd told PTI.
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In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended lower. Equity markets in Europe were trading lower. The US markets ended in negative territory on Wednesday.
Global oil benchmark Brent crude climbed 0.27 per cent to $76.86 a barrel.
Meanwhile, the rupee depreciated by 22 paise to close at 82.47 (provisional) against the US dollar on Thursday, weighed down by a stronger American currency in the overseas market and elevated crude oil prices. At the interbank foreign exchange, the domestic unit opened at 82.36 against the dollar and settled at 82.47 (provisional), down 22 paise from its previous close.
In the broader market, the BSE midCap gauge climbed 0.79 per cent, and smallcap index rose 0.67 per cent.
A total of 2,049 stocks advanced while 1,401 declined and 146 remained unchanged on the BSE.
Sectorwise, there was a notable rally in utilities, with a gain of 2.44 per cent, followed by a jump of 2.17 per cent in the realty sector. The oil & gas sector advanced by 2 per cent, while power and energy climbed by 1.96 per cent and 1.84 per cent, respectively. Auto and healthcare sectors also saw gains of 1.20 per cent and 1.05 per cent, respectively.
The only laggard among the indices was IT, which experienced a marginal decline of 0.05 per cent.