BSE-listed firms’ m-cap hits a record ₹211 trillion1 min read . Updated: 07 May 2021, 11:05 PM IST
- In the last three days, the market capitalization of BSE-listed firms jumped by ₹4.39 trillion
MUMBAI : The market capitalization of BSE-listed companies touched a record ₹211 trillion ($2.87 trillion) on Friday, tracking recent gains in the equities market. These companies saw their market capitalization jump by ₹4.40 trillion in the past three days.
On Friday, the benchmark Sensex closed at 49,206.47, up 256.71 points or 0.52%. The broader Nifty50 closed at 14,823.15, up 98.35 points or 0.67%. Both Sensex and Nifty had hit their lifetime highs of 52,516.76 and 15,431.75 on 16 February.
Meanwhile, the BSE Smallcap closed at an all-time closing high of 22,360.13 and the S&P BSE Midcap index is 2.26% away from the record high touched in March.
In absolute terms, Reliance Industries Ltd is the country’s most valuable firm with a market valuation of ₹12,24,336.42 crore, followed by Tata Consultancy Services (TCs) with ₹11,58,542.89 crore.
“BSE’s market cap touched an all-time high amid the serious health crisis that the nation is going through. The economy is getting impacted by lockdowns, curfews and restrictions on mobility. But the market, which is forward-looking, is driven by the hope that the second wave will peak around mid-May and the economy will soon bounce back," said V.K. Vijayakumar, chief investment strategist at Geojit Financial Services.
“Fourth-quarter earnings indicate a sharp turnaround in profitability and this trend is likely to sustain if the second covid wave peaks and then comes down like what happened in the UK," he said.
Market breadth, on Friday, was positive with 1,687 stocks ending higher against 1,321 ending lower on BSE. A total of 171 stocks were unchanged.
The number of shares racing to their 52-week highs stood at 274 against 38 touching their 52-week lows.
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