The BSE-listed companies hit a record market capitalization of 401.10 lakh crore, largely fueled by strong market performance
The market capitalization of companies listed on the BSE surged to a record high of 401.10 lakh crore. This was largely spurred by a record-breaking rally in the stock market earlier. The 30-share BSE Sensex, on the other hand, reached an all-time high as well.
This marks the first instance wherein the market capitalization of companies listed on the BSE has surpassed the Rs 400 lakh crore milestone, as per a report by PTI. The 30-share BSE benchmark jumped 425.62 points to reach a new record high of 74,673.84 in early trade.
At 12:00 pm, Sensex was trading at 74,692 level, up by 444 points. Whereas NSE's Nifty was up by 133 points, at trading at 22,647.05 level.
The surge in equities has pushed the market capitalization of BSE-listed companies to a historic peak of Rs 4,01,16,018.89 crore (equivalent to USD 4.81 trillion). This comes after the market capitalization of BSE-listed firms crossed the Rs 300-lakh-crore milestone in July of the previous year.
From the Sensex basket, Mahindra & Mahindra, Maruti, Tata Steel, Bajaj Finserv, Power Grid, Reliance Industries, Axis Bank and JSW Steel were the major gainers. Wipro, Nestle, HDFC Bank and Bajaj Finance were among the laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,659.27 crore on Friday, according to exchange data. Global oil benchmark Brent crude declined 1.36 per cent to USD 89.93 a barrel.
(With Inputs From PTI)