M-cap of BSE listed reached record high, combined market capitalization reached Rs 337.67 lakh crore
BSE MCap: The combined market capitalization of BSE is set to reach US$4 trillion on 29 November 2023. The rise in the stock market and buying by foreign investors have also helped in the rise in the M-cap of BSE. BSE M-Cap hits an all-time high. The combined market capitalization of BSE-listed companies reached Rs 337.67 lakh crore on Friday.
The M-cap of the stock exchange Bombay Stock Exchange (BSE) has crossed $ 4 trillion this trading week. The combined market capitalization of BSE-listed companies reached Rs 337.67 lakh crore (US$4 trillion) on Friday following buying by foreign investors and a rally in the stock market this week. This m-cap reached all-time high.
The BSE Sensex rose 492.75 points or 0.74 percent to close at 67,481.19 points, marking the fourth consecutive day of gains in the market. It rose 575.89 points or 0.85 percent to 67,564.33 during the day on Friday. The benchmark index has gained 1,511.15 points or 2.29 per cent in the last four days of trading session.
The market capitalization of BSE-listed firms rose to Rs 337.67 lakh crore, equivalent to US$4 trillion at the exchange rate of 83.30. Investors' wealth has increased by Rs 8.95 lakh crore in four days of market rise.
The combined market valuation of all listed companies on BSE reached US$ 4 trillion for the first time on 29 November 2023 (Wednesday). The benchmark reached its all-time peak of 67,927.23 points on September 15 this year. The market valuation of US, China, Japan and Hong Kong in international stock exchanges is more than US$ 4 trillion.
On Friday, Nifty closed at an all-time high of 20,267.90 points, rising 134.75 points or 0.67 percent. During the day, Nifty touched its intra-day record high of 20,291.55 points with a gain of 158.4 points or 0.78 percent.
Prashant Tapse, Senior Vice President (Research), Mehta Equities Limited, said, "Frenzy buying led by renewed optimism from FIIs and positive European market cues pushed the benchmark Nifty to a new record high. India remains a bright spot in the uncertain global economy as recent data indicators such as strong GDP and manufacturing numbers "As well as external factors such as the decline in US bond yields, the market is in good stead."
India has retained the tag of the world's fastest-growing major economy, with its GDP growing faster than expected by 7.6 per cent in the September quarter due to booster shots from government spending and manufacturing. India's manufacturing sector continued its strong performance in November, according to a monthly survey released on Friday.