India News | Mcap of BSE-listed Firms Hit New All-time High of Rs 460 Lakh Crore
Get latest articles and stories on India at LatestLY. The market capitalisation of BSE-listed firms hit a new all-time high of Rs 460 lakh crore on Tuesday, helped by a record-breaking rally in equities.
New Delhi, Jul 30 (PTI) The market capitalisation of BSE-listed firms hit a new all-time high of Rs 460 lakh crore on Tuesday, helped by a record-breaking rally in equities.
The 30-share BSE Sensex closed higher by 99.56 points or 0.12 per cent at 81,455.40 -- its all-time closing high -- with 16 of its components advancing and 14 ending lower. The index opened higher and jumped 459.43 points or 0.56 per cent to hit an intra-day high of 81,815.27.
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The NSE Nifty edged up 21.20 points or 0.09 per cent to settle at an all-time closing high of 24,857.30. During the day, it surged 135.65 points or 0.54 per cent to 24,971.75. The index hit a low of 24,798.65.
Thanks to the bull run in equities, the market capitalisation of BSE-listed firms surged to a lifetime high of Rs 4,60,91,445.34 crore (USD 5.50 trillion).
In the last three sessions, investors' wealth jumped Rs 3.98 lakh crore.
"Sustained capital flows into mutual funds and the retail investor enthusiasm will keep the market resilient.
"The elevated valuations continue to be a concern, particularly in the broader market. A healthy trend in the market now is that high-quality stocks with good earnings visibility are gaining strength on buying by institutions," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers.
Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
In the broader market, the BSE smallcap gauge jumped 0.88 per cent, and the midcap index climbed 0.27 per cent. During the day, both indices hit their all-time high level.
Among the indices, Utilities surged by 1.97 per cent, Power bounced by 1.49 per cent, Consumer durables rallied by 1.15 per cent, oil & gas by 0.73 per cent and consumer discretionary by 0.72 per cent).
On the other hand, FMCG, healthcare, IT and Teck were the laggards
As many as 2,245 stocks advanced, while 1,667 declined and 111 remained unchanged.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 2,474.54 crore on Monday.
(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)