BSE-listed firms' market valuation touches record high of Rs 343.48 lakh crore
The 30-share BSE Sensex jumped 1,383.93 points, or 2.05 per cent, to close at a lifetime high of 68,865.12. The index touched an intra-day record peak of 68,918.22.
The barometer logged its biggest single-day jump since May 20, 2022.
The market capitalisation of BSE-listed firms jumped by Rs 5.81 lakh crore to Rs 343.48 lakh crore from Rs 337.67 lakh crore on Friday.
In the last five trading sessions, investors' wealth has gone up by Rs 14.76 lakh crore.
The combined market valuation of all listed companies on the BSE reached the USD 4 trillion milestone for the first time ever on Wednesday.
Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank.
In the broader market, the BSE midcap gauge jumped 1.19 per cent and smallcap index climbed 1.20 per cent.
All the sectoral indices recorded gains with oil and gas surging the highest 3.77 per cent followed by Bankex rising to 3.56 per cent. While the power sector index went up 2.99 per cent, financial services advanced 2.98 per cent and utilities jumped 2.94 per cent.
«The Indian markets now are set for another rally this time driven by the large caps going into the central elections.
The clarity of domestic state election win and overall steady global macro environment will boost market optimism,» Jaykrishna Gandhi, Head — Business Development, Institutional Equities at Emkay Global Financial Services, said.
Gandhi further said that rate hikes have been largely ruled out which opens the narrative for rate cuts for some time next year.
«We believe large caps will outperform small and mid in the near term with laggards
