Latest News | Mcap of BSE-listed Companies at All-time High of Rs 306.66 Lakh Crore

New Delhi, Jul 31 (PTI) The market capitalisation of BSE-listed companies rallied to an all-time high of Rs 306.66 lakh crore on Monday, driven by positive sentiment in domestic equity benchmarks.

The 30-share BSE Sensex jumped 367.47 points or 0.56 per cent, to settle at 66,527.67 points, bouncing back after a two-day decline. During the day, it climbed 438.22 points, or 0.66 per cent, to 66,598.42 points.

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Investors' wealth also jumped Rs 2,50,254.54 crore.

"Benchmarks witnessed a positive session throughout the day, thanks to positive Wall Street cues in Friday's trade. The key positive catalyst is that the US economy expanded an annualised 2.4 per cent in Q2 (April-June), higher than 2 per cent in the previous period and way above the market estimates of 1.8 per cent," said Prashanth Tapse, senior VP (research), Mehta Equities Ltd.

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From the Sensex pack, NTPC jumped 4 per cent after the company posted over a 23 per cent rise in consolidated net profit in the April-June quarter of 2023-24.

Power Grid, Tech Mahindra, Tata Steel, Tata Consultancy Services, JSW Steel, Wipro and Maruti were among the other major gainers.

Bajaj Finance, Kotak Mahindra Bank, Hindustan Unilever, ITC, Bharti Airtel and Asian Paints were the laggards.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended in the green.

European markets were trading on a mixed note. The US markets had ended in the positive territory on Friday.

"Strong buoyancy in Asian and European indices bolstered the local market sentiment, as the beaten-down sectors in recent sessions like IT, metals, power, and oil & gas stocks were the star performers. The undertone of our market is still bullish and hence we may not see such frenzied selling unless there is any major havoc in global markets," said Shrikant Chouhan, head of research (retail), Kotak Securities Ltd.

In the broader market, the BSE smallcap gauge jumped 1.31 per cent and midcap index climbed 0.86 per cent.

Among indices, utilities rallied 2.47 per cent, power jumped 2.33 per cent, metal 1.73 per cent, industrials 1.66 per cent, services 1.33 per cent, capital goods 1.32 per cent, IT 1.28 per cent and commodities 1.25 per cent. FMCG emerged as the laggard.

(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)