Market cap of BSE-listed companies soar to all-time high of ₹406.52 lakh crore
Upstox
2 min read • Updated: April 29, 2024, 7:36 PM
Summary
Indian markets resumed the rally after taking a pause on friday last week. The NIFTY and Sensex closed with over 1% gains led by private and public sector banks which remain upbeat on robust Q4 earnings
New Delhi, Apr 29 (PTI) The market capitalisation of BSE-listed companies soared to an all-time high of ₹406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1%
The 30-share BSE Sensex rallied 941.12 points or 1.28% to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 %to 74,721.15.
The market capitalisation (mcap) of BSE-listed companies reached a record peak of ₹ 4,06,52,419.94 crore (USD 4.90 trillion). Investors' wealth climbed by ₹2,48,043.51 crore on Monday.
"Markets witnessed phenomenal buying support as Sensex quickly moved towards the crucial 75K mark after investors cheered strong corporate earnings from select frontline banking and cement companies, indicating their smooth sailing despite the global vagaries.
From the Sensex basket, ICICI Bank climbed nearly 5 % after the company on Saturday said its March quarter consolidated net profit grew 18.5% to ₹ 11,672 crore, helped by lower provisions.
State Bank of India, IndusInd Bank, UltraTech Cement, Axis Bank, NTPC, Kotak Mahindra Bank, Tata Consultancy Services, Bajaj Finance, HDFC Bank and Sun Pharma were the other major gainers.
HCL Technologies tanked nearly 6% after the company reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore.
ITC, Wipro and Bajaj Finserv were the other laggards.
In the broader market, the BSE midcap gauge jumped 0.79 per cent and smallcap index advanced 0.07 per cent.
Among the indices, bankex jumped (+2.70 %), financial services (+1.81%), utilities (+1.12 %), power (+0.90 %) and energy (+0.79 %). Realty and services were the laggards.
A total of 2,015 stocks advanced while 1,894 declined and 179 remained unchanged.