BSE market capitalisation surges again

Written by Pradip Kumar Dey | Mumbai, Mar 25 | Updated: Mar 26 2008, 05:26am hrs
With the global markets providing the ideal support system, the aggaregate market capitalisation (M-cap) of the Bombay Stock Exchange (BSE) rose by a whopping Rs 2,57,391 crore (5.1%) to Rs 53,24,954 crore on March 25, 2008 from the level of Rs 50,67,563 crore achieved on March 19, 2008.

The Sensex also increased by 1,222.66 points (8.15%) to 16,217.49 from the level of 14,994.83 during the period.

Ambaresh Baliga, VP, Karvy Stock Broking said: The international market improved over the last two sessions and the sentiment got reflected here.There was short covering as well as value buying happening at the lower levels.

Interestingly, NBFC (11.5%), banks (10.4%), IT (8.4 %), aluminium (7.4%) and telecommunication (6.4%) showed significant growth in M-Cap during the period between March 19 and March 25. Among others, more than 5% rise in M-cap was seen in the case of oil and gas (6.3%), tyres (6.2%), construction (6.1%), electric equipment (6.0%) and FMCG (5.6%).

The M-Cap of oil and gas companies increased from Rs 7,86,769 crore on March 19, 2008 to Rs 8,36,277 crore on March 25, 2008.

On Tuesday, the decline was registered in the case of oil drilling and allied services (-1.4%) and textiles (-0.2%). The M-Cap of 250 textile companies decreased from Rs 42,968 crore on March 19, 2008 to Rs 42,887 crore on March 25,2008.

Among the major industrial houses more than 6% increase in M-Cap was seen in the case of Gaur Jaiprakash (13.9%), Shriram Thyagraj (8.3%), BK Birla (8.1%), Shiv Nadar (7.55%),Videocon (6.7%), Mukesh Ambani(6.58%) and Anil Ambani 6.38%). Between March 19 and March 25,2008, the total M-Cap of A group shares (199) increased by 5.9% (Rs 2,42,271 crore) to Rs 43,20,363 crore from Rs 40,78,092 crore. Significant increase was seen in the case of YES Bank (25.4%) followed by Reliance Capital (20.5%), HDFC (17.0%), Max India (16.6%) and Wipro (15.4%).