BSE mcap at fresh record high of Rs270.73 lakh cr
New Delhi: Helped by the ongoing rally in equities, the market capitalisation (mcap) of BSE-listed companies reached a fresh record high of Rs2,70,73,296.03 crore on Wednesday. Driven by the ongoing rally, investors' wealth also jumped by Rs 8,52,748.98 crore in five days as the BSE benchmark index gained 1,547.32 points in five sessions.
"The mood of the global market is muted by inflation fears & high bond yields ahead of the release of US inflation data. However, the Indian market is robust due to the festival season. Best performers are auto, metal, and power sectors in expectation of high demand," said Vinod Nair, head (research) at Geojit Financial Services.
Rallying for the fifth straight session on Wednesday, the 30-share BSE benchmark jumped 452.74 points or 0.75 per cent to settle at its all-time closing high of 60,737.05. During the day, it rallied 552.32 points to its intra-day all-time high of 60,836.63.
M&M was the biggest gainer in the 30-share BSE benchmark companies pack, rallying over 5 per cent, followed by ITC, PowerGrid, Tech Mahindra, and Larsen & Toubro. In the broader market, the midcap and smallcap indices gained up to 1.56 per cent.