Market cap of 100 sectors up 100%

In the rally from 4505.16 points on May 17, 2004, to 9067.28 on Friday, the market capitalisation of almost all sectors gained between 24 per cent and 1000 per cent.

Of the 119 sectors classified by the BS Research Bureau, 100 sectors saw their market capitalisation (m-cap) appreciating by over 100 per cent between May 17, 2004 and December 9, 2005.

The other 19 sectors recorded m-cap gains between 23 per cent and 100 per cent. The Bombay Stock Exchange Sensex closed above 9,000 for the first time on Friday, after crossing that level on November 28, this year.

This is more than double from its May 2004 level. The index had fallen a record 793.39 points on May 17 last year, when the National Democratic Alliance  government lost power at the Centre.

The market capitalisation of industrial gases, power cables, construction, transmission line tower, steel strips and office equipment appreciated more than 500 per cent in the last nineteen months.

Information technology, banks, refineries, oil explorations, telecommunications, non-banking financial companies, pharmaceuticals and engineering were among the top gainers. The m-cap of each sector increased by over Rs 30,000 crore (Rs 300 billion).

Technology has been the largest gainer during the rally, clocking a 127 per cent rise (Rs 1,33,934 crore) from Rs 1,05,057 crore (Rs 1050.57 billion) to Rs 2,38,991 crore (Rs 2389.91 billion).

Total wealth of 37 banks increased 105 per cent or by Rs 1,14,034 crore (Rs 1140.34 billion) to Rs 2,22,493 crore (Rs 2224.93 billion), followed by refineries Rs 91,403 crore (Rs 914.03 billion) to Rs 2,18,454 crore (Rs 2184.54 billion), oil exploration Rs 72,469 crore (Rs 724.69 billion) to Rs 1,62,520 crore (Rs 1625.20 billion) and telecommunications Rs 57,847 crore (Rs 578.47 billion) to Rs 97,972 crore (Rs 979.72 billion).

The other sectoral gainers were retail (m-cap up 367 per cent), cement products up 353 per cent, sugar up 341 per cent, pump and compressor 316 per cent, engineering and electrical equipment 280 per cent each, bearings 257 per cent and mining 248 per cent.

Meanwhile, the market wealth of 76 per cent (1,624) stocks more than doubled since May 17, 2004.

Of the 1,624 stocks, the market price of 136 appreciated more than 1,000 per cent and 247 scrips gained in the range of 500 per cent to 1,000 per cent.

During the period, the market price of 682 companies, increased in the bracket of 200-500 per cent and the remaining 559 stocks, gained between 100 per cent and 200 per cent.