95% of the listed stocks gained
The market capitalisation of stocks on the Bombay Stock Exchange (BSE) zoomed to Rs 719,965 crore today, an increase of Rs 100,638 crore in a month.
The rise in market valuation was across the board, with nearly 95 per cent of the listed stocks gaining in the past month. Only seven of the 111 sectors tracked by the BS Research Bureau lost value in the period.
Small and little known sectors topped the gainers' list, with the market capitalisation of textiles machinery manufacturing companies and term-lending institutions soaring by over 70 per cent each in the past month.
Shares of automobile, ferro alloys, power cable and steel firms also gained significantly.
Riding on the divestment euphoria, stocks of public sector undertakings shot up by 27.2 per cent, accounting for nearly 40 per cent of the total rise in market capitalisation. The market capitalisation of public sector stocks increased from Rs 146,748 crore on May 21 to Rs 186,627 crore on June 19.
The market capitalisation of refinery company stocks went up 28.8 per cent from Rs 99,008 crore to Rs 127,485 crore. That of diversified firms increased by Rs 9,476 crore (from Rs 47,203 crore to Rs 56,680 crore), pharmaceutical companies by Rs 6,568 crore and fast-moving consumer product companies by Rs 5,096 crore.
The infotech sector ranked sixth in the gainers
