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Rediff.com  » Business » Sensex hits new high, m-cap shy of $2 trillion

Sensex hits new high, m-cap shy of $2 trillion

May 10, 2017 17:47 IST

The stock market investor wealth is fast nearing the USD 2 trillion mark, following a dream run in share valuations that has propelled the benchmark Sensex to a new peak.

At close of trade on Wednesday, the total market capitalisation of BSE-listed companies stood at Rs 1,26,61,536 crore (USD 1.95 trillion) -- just about 2 per cent away from the USD 2-trillion mark.

The BSE 30-share index Sensex has gained 13.6 per cent so far this year and has touched a cord high of 30,271.60 today. The rupee appreciation has further boosted the dollar valuation of the BSE-listed firms' market capitalisation.

A total of 42 companies on BSE have a market value of USD 10 billion or more.

The total market valuation of all listed firms on BSE had first hit the Rs 100 trillion level on November 28, 2014.

The benchmark index on Wednesday surged 314.92 points or 1.05 per cent to close at 30,248.17 on widespread buying spurred by forecast of a normal monsoon this year.

From the 30-share pack, 22 advanced, while eight ended with losses.

"The Indian meteorological department's bullish monsoon forecast eased concerns over El Nino weather conditions and added further legs to the ongoing rally. Earnings positivity has obviously been keeping markets buoyant and prospects of FII turning buyers in equities also kept markets soar higher," said Anand James, Chief Market Strategist, Geojit Financial Services Ltd.

On BSE, 1,623 stocks advanced, while 1,222 declined and 176 remained unchanged.

Over 200 stocks hit their 52-week high level on BSE on Wednesday.

"We believe the markets to continue this upward momentum. As the companies are able to post good earnings and now on the anticipation of better than normal monsoon, we expect markets to enjoy positive sentiments and see Nifty touching 9,500 in the coming session," said Foram Parekh, research analyst, Bonanza Portfolio Ltd.

TCS is the most valued Indian company with a market valuation of Rs 4,59,602.32 crore followed by RIL (Rs 4,42,018.71 crore).

More than 5,000 companies are listed on BSE, making it world's number one exchange in terms of listed firms. 

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