BSE achieves new milestone: Market cap of all listed firms hits ₹400 lakh crore for the first time
Upstox
2 min read • Updated: April 8, 2024, 11:38 AM
Summary
Strong corporate earnings, positive investor sentiment, and heavy domestic and international inflows led to strong growth of the index. Strong corporate earnings, positive investor sentiment, and heavy domestic and international inflows led to strong growth of the index. On April 4, BSE Sensex surged 600 points to hit all-time high of 74,501 and NSE Nifty rose 0.64% to reach its fresh peak of 22,619.
The combined market capitalisation of all listed stocks on the BSE hit the ₹400 lakh crore milestone for the first time on April 8. This was backed by continued momentum in blue-chip, small-cap, and mid-cap indices.
BSE, previously known as the Bombay Stock Exchange, hit ₹100 lakh crore mark in March 2014 and reached ₹200 lakh crore in February 2021. Last year, in July it reached ₹300 lakh crore, and just nine months later, the stock exchange touched a combined market capitalisation of ₹400 lakh crore.
Strong corporate earnings, positive investor sentiment, and heavy domestic and international inflows led to strong growth of the premier stock exchange. Realty, PSU banks, Auto, Energy, Infra, and Pharma saw some of the strongest rallies.
Since April 2023, market capitalisation of BSE-listed firms has risen by ₹145 lakh crore, a growth of around 57%. This was powered by robust macroeconomic indicators, strong corporate earnings, positive investor sentiment, and significant domestic and foreign investor inflows. While, the blue-chip BSE Sensex rose 25%, the midcap and smallcap indices outpaced the benchmark index, rising 68% and 63%, respectively.
On April 4, the BSE Sensex touched new record highs, although it remained flat on April 5 after the RBI maintained the status quo for interest rates. This was in line with investor expectations, but it did hint at the central bank’s more cautious approach toward taming inflation. Market experts are expecting an easing cycle to start in August to sustain economic growth.