Stock Market

M-cap of BSE-listed cos hits record high, tops Rs 112 lakh cr

M-cap of BSE-listed cos hits record high, tops Rs 112 lakh cr

The total market valuation of BSE-listed companies today surged to a lifetime high of over Rs 112 lakh crore, driven by robust stock market sentiment.

The market capitalisation (m-cap) swelled to Rs 1,12,44,145 crore. Earlier, it had hit a record high of Rs 100 lakh crore in November 2014.

The 30-share BSE Sensex resumed higher and continued its upward journey to cross the 29,000-mark for the first time since April 15, 2015. It touched a high of 29,013.40 before settling at 28,978.02, a neat gain of 445.91, or 1.56 per cent. This was the biggest single-day gain since July 11, when it had gained 499.79 points.

Out of the 30-share Sensex pack, 25 scrips ended with gains while 4 registered loss. Sun Pharma ended steady.

The second-line stocks also saw heavy buying, lifting the mid-cap index by 1.84 per cent and small-cap by 0.95 per cent.

The bourses were closed yesterday on account of ‘Ganesh Chaturthi’.

“Returning from an extended weekend, the Sensex rallied strongly on the back of positive global cues and likely deferment of rate cut in the near term, given the weaker than expected US non-farm jobs number for August,” said Sanjeev Zarbade, Vice-President – PCG Research, Kotak Securities.

BSE is among the world’s 10 largest exchanges in terms of market value while it is the biggest in terms of number of firms listed on its platform.

TCS is the most valued Indian firm with a market valuation of Rs 4,89,464.15 crore followed by followed by Reliance Industries (Rs 3,30,942.62 crore), HDFC Bank (Rs 3,30,261.30 crore), ITC (Rs 3,17,433.46 crore) and Infosys (Rs 2,40,053.69 crore).