BSE market capitalisation soars to a new high

Investor wealth touched a historic high of Rs 17,18,817 crore on the Bombay Stock Exchange today with the Sensex gaining 55.93 points today to close at 6633.76.

Market analysts said a sharp rally in the mid-cap stocks has resulted in the market adding over Rs 6,00,000 crore in the investor wealth since the Black Monday on May 17, 2004.

The next best was 17,14,326 crore on January 3, 2005, the first trading session of 2005. Sensex was at its all-time high of 6679.20 during the period.

While the top five sectors "" Information technology, refineries, banks, pharmaceuticals and power "" are major m-cap contributors, however this time around its the mid-cap segment that has contributed heavily to the rise in market capitalisation.

Since January 3, while the market cap of mid-cap segment has gone up by 8.03 per cent, however, the market cap of A-group stock has come down 1.15 per cent.

Market analysts said, with most frontline stocks already near highs, there has been a shift in focus of many funds on mid cap potential growth stocks.

Frontline still accounts for over 50 per cent share, with IT and refineries sharing 27.2 per cent. Banks (9.9 per cent), pharmaceuticals (6.8 per cent) and power (6.3 per cent) were other major capitalisation movers sectors.