 "India's market capitalisation tops Rs 400 trillion as indices hit new high")
The combined market capitalisation (mcap) of all BSE-listed companies crossed Rs 400 trillion for the first time on Monday. The feat comes amid a sharp rebound in shares of smallcap companies from their March lows. The Nifty Smallcap 100 index has rallied over 12 per cent during its uninterrupted 12-session gaining streak. The index is now less than a per cent away from a new high. Meanwhile, the benchmark Sensex indices made fresh record high for a third day.
The Sensex ended the session 494 points higher at 74,743, while the Nifty gained 153 points to settle at 22,666. India’s mcap had first crossed the Rs 300 trillion mark in July 2023 when the Sensex was just shy of 66,000. The next big milestone for the domestic markets is the $5 trillion mcap mark, which is less than 4 per cent away.
Market players said strong domestic macro and inflows were underpinning gains in the equity market. “The capital markets have witnessed vibrant participation from domestic retail investors. India boasts of a unique combination of ‘size and growth’ as India’s GDP is likely to exceed $4 trillion in FY25/26 and reach $8 trillion by FY34,” said Ajay Menon, managing director and chief executive officer of broking division of Motilal Oswal Financial Services.
The Sensex ended the session 494 points higher at 74,743, while the Nifty gained 153 points to settle at 22,666. India’s mcap had first crossed the Rs 300 trillion mark in July 2023 when the Sensex was just shy of 66,000. The next big milestone for the domestic markets is the $5 trillion mcap mark, which is less than 4 per cent away.
Market players said strong domestic macro and inflows were underpinning gains in the equity market. “The capital markets have witnessed vibrant participation from domestic retail investors. India boasts of a unique combination of ‘size and growth’ as India’s GDP is likely to exceed $4 trillion in FY25/26 and reach $8 trillion by FY34,” said Ajay Menon, managing director and chief executive officer of broking division of Motilal Oswal Financial Services.