India's Market Cap Above $4 Trillion Amid Positive Sentiment Ahead Of General Election
Cumulative market capitalisation of over 5,200 companies listed on the exchange has crossed $4 trillion.
India's equity market cap stayed above the $4-trillion mark on Wednesday after crossing the milestone last week.
Cumulative market capitalisation of over 5,200 BSE Ltd.-listed companies stood at about Rs 333 lakh crore amid positive sentiment ahead of the general election. At the spot dollar-rupee exchange rate, that's about $4.03 trillion. India's equity market cap first breached the milestone on Nov. 21.
The market added over $92 billion since hitting their lowest point of the year at $3.07 trillion on March 28.
The Indian equity market took over a decade to join the trillion-dollar club in May 2007. It hit $2 trillion by July 2017 and crossed $3 trillion in May 2021.
The benchmark Sensex's 0.9% rise on Wednesday took it past the $4 trillion milestone.
The S&P BSE Sensex rose 15.9% since hitting its lowest during the year on March 20, and 9.8% since the beginning of the year.
Top gainers in Sensex include Tata Motors Ltd., which has surged 83.5%, and NTPC Ltd., which has gained over 55% year-to-date.
While, top laggards were State Bank of India, which fell over 7%, and HDFC Bank Ltd., which fell 4.7% year-to-date.