India News | Mcap of BSE-listed Firms at Lifetime Peak of Rs 289.88 Lakh Cr; Investors Wealth Climbs Rs 8.96 Lakh Cr in 8 Days
Get latest articles and stories on India at LatestLY. The market capitalisation of BSE-listed companies reached a fresh all-time high of Rs 289.88 lakh crore on Thursday following an ongoing rally in equities.
New Delhi, Dec 1 (PTI) The market capitalisation of BSE-listed companies reached a fresh all-time high of Rs 289.88 lakh crore on Thursday following an ongoing rally in equities.
Analysts have attributed the rally in the markets to foreign fund inflows and the latest comments from the Federal Reserve Chairman Jerome Powell on the pace of interest rate hikes.
Rallying for the eighth day running, the 30-share BSE Sensex climbed 184.54 points or 0.29 per cent to settle at 63,284.19, its fresh record closing high. During the day, it rallied 483.42 points or 0.76 per cent to 63,583.07, its lifetime intra-day peak.
In eight days, the BSE benchmark has jumped 2,139.35 points or 3.49 per cent.
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At the end of trade, the market capitalisation of BSE-listed firms was at Rs 2,89,88,217.01 crore. In eight days, investors wealth has climbed Rs 8,96,963.87 crore.
"Domestic equities gained for the eighth consecutive day on the back of dovish commentary from the US Fed Chair. Nifty opened higher and made a fresh high before witnessing mild profit-booking in the later part of the day," Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services Ltd, said.
The benchmark Sensex settled above 63,000-level for the first time ever on Wednesday.
"The benchmarks closed at fresh all-time highs following positive overnight Wall Street cues after Powell signalled smaller rate hikes. The celebratory mood at Dalal Street should continue with stock-specific action likely to command investors' attention," said Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd.
In Thursday's trade, in the broader market, the BSE smallcap gauge jumped 0.63 per cent and midcap index climbed 0.62 per cent.
Among sectoral indices, IT jumped 2.03 per cent, realty (1.94 per cent), teck (1.58 per cent), commodities (1.24 per cent) and industrials (0.74 per cent).
Power, oil & gas, energy and FMCG were among the laggards.
A total of 2,033 firms advanced, while 1,463 declined and 140 remained unchanged.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)