New record on Dalal Street! India market cap hits Rs 400 lakh crore for first time
Sensex and Nifty scaled fresh all-time peaks, the combined market capitalisation of all listed stocks on BSE hit the Rs 400 lakh crore milestone for the first time ever on Monday. With retail investors shifting their savings from traditional investment avenues, BSE’s m-cap has seen a growth of Rs 100 lakh crore in just 9 months.
The Rs 300 lakh crore mark was touched on 5 July 2023 when Nifty was at 19,400-level. Since then the index is up over 16% and scaled a fresh peak of 22,623.90. The rally has been much sharper in smaller stocks with hundreds of small and midcap stocks giving multibagger returns.
The Rs 100 lakh crore gain in the last 9 months also includes the impact of many new listings like IPOs, FPO or any other form of equity fundraising but most of the gains have been led by the sheer rise in share prices.
India's market cap crossed the Rs 50 lakh crore mark in 2007, Rs 100 lakh crore milestone in 2014, and the Rs 200 lakh crore mark in February 2021.
In terms of wealth creation, the ongoing bull run is unprecedented in India's history.
In the last one year, PSU stocks have been one of the biggest outperformers with investors banking on 'Modi ki Gaurantee', govt's capex push and turnaround story. Both Nifty PSE index and Nifty CPSE have more than doubled in 12 months. Nifty PSU Bank is also up about 95%.
The Nifty Microcap 250 index has rallied nearly 93%, Nifty Smallcap100 80% and Nifty Midcap100 66%.
More to come...
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