BSE-Listed Firms’ Market Cap Hits Record High Of Rs 192.87 Lakh Crore
Total market capitalisation of all listed companies on the Bombay Stock Exchange rose to a record high of Rs 192.87 lakh crore on Tuesday helped by the rally in the equity market.
Markets recorded their tenth straight session of gains on Tuesday.
During this period, the BSE Sensex jumped 2,883.82 points or 6.33% and closed at 48,437.78 on Tuesday.
The market capitalisation of BSE-listed firms have jumped a whopping Rs 14.08 lakh crore to a record Rs 192.87 lakh crore ($2.6 trillion) in 10 trading sessions.
Approval of two Covid-19 vaccines brought cheers to the domestic market.
Despite opening on a negative note on Tuesday, the 30-share BSE index pared all losses and staged a smart recovery to close 260.98 points or 0.54 per cent higher at 48,437.78. It touched a lifetime high of 48,486.24 during the day.
Reliance Industries Ltd. is the country's most valuable firm with a market valuation of Rs 12.46 lakh crore, followed by Tata Consultancy Services Ltd. (Rs 11.6 lakh crore).
"Domestic equities saw a brisk recovery from today's low mainly led by a sharp rebound in banking and IT stocks. Continued improvement in Covid recovery rates along with likely commencement of vaccination drive shortly and sustained improvement in key economic data defied weak global markets," according to Binod Modi, Head Strategy at Reliance Securities.
In the memorable year 2020, the Sensex gained 15.7% where the benchmark index witnessed both ruthless selling and massive buying.
Equity investors grew richer by Rs 32.49 lakh crore in 2020 helped by massive returns in the equity market which had a roller coaster ride during the year hit by the coronavirus pandemic.