D-Street Record: BSE-listed companies reach ₹400 lakh crore market cap for first time
₹400 lakh crore for the first time during today's trading session. This achievement comes amid a sustained rally in the large, mid and small-cap stocks, extending for the third consecutive session, with heavyweight stocks playing a major role in driving the surge. The market sentiment has been bolstered by positive financial updates from numerous companies, setting an optimistic tone ahead of the upcoming earnings season.
The robust business update from heavyweight HDFC Bank has played a crucial role in boosting index performance, while strong auto sales figures have further fueled optimism among investors regarding the growing economy. Additionally, shares of Reliance Industries, the country's largest company in terms of market capitalisation, have also demonstrated strong performance. Also Read: Why are gold and US dollar rates moving in same direction? — explained The 30-share BSE Sensex benchmark climbed 425 points, or 0.57 percent, to hit another record high of 74,676 points.
The index in the current year so far has jumped 3.28%. It finished CY23 with a remarkable return of 18.74%. The oldest stock exchange in Asia reached a market capitalisation of ₹100 lakh crore for the first time in March 2014, followed by ₹200 lakh crore in February 2021.
It achieved the ₹300 lakh crore milestone in July 2023, and now, just nine months later, it has crossed the ₹400 lakh crore mark. Also Read: Q4 results: Largecaps may give some surprises in FY25 On the other hand, the combined market cap of NSE-listed firms is also hovering around the ₹400 lakh crore mark. On December 1, 2023, the market capitalisation of the NSE-listed firms crossed $4 trillion ( ₹334.72 lakh crore).
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