The 30-share BSE index closed the day with a gain of 358.54 points or 0.71 per cent at its lifetime peak of 50,614.29. This is the fourth consecutive day of gains for the markets.
“It is a matter of immense pride that, since 1875, BSE has acted as a catalyst to help create immense wealth to the tune of Rs 200 lakh crore amounting to USD 2.75 trillion.
“It is heartening to note BSE continues to remain the primary wealth creator of the nation. It is also good to note that no other developing country at the stage of India’s development has a thriving capital market as compared to India,” said Ashishkumar Chauhan, MD and CEO, BSE.
BSE has also become the world’s ninth largest exchange in terms of listed companies’ market capitalisation, as on date, Chauhan added.
In four days, the 30-share BSE benchmark has gained 4,328.52 points or 9.35 per cent, mainly propelled by the euphoria over the Union Budget.
Investor wealth has jumped by over Rs 14.34 lakh crore to Rs 2,00,47,191.31 crore in four days.
The BSE-listed companies’ market valuation had crossed the Rs 100 lakh crore milestone on November 28, 2014.
Stock markets had witnessed volatile trends during the last year, with the Sensex crashing to its one-year low of 25,638.9 on March 24, only to roar back to life during the later part of 2020.
The 30-share BSE benchmark had twice hit the 50,000-mark this year but could not close above this historic level.
Earlier on January 21, the benchmark had reached its all-time peak of 50,184.01. On Tuesday (February 2), the key index jumped to an intra-day high of 50,154.48 before closing at 49,797.72.
The index finally closed above the historic mark on Wednesday.
With this rally, the BSE benchmark index has nearly doubled from the massive lows it faced in March last year at the onset of the COVID-19 crisis.
In 2020, investors grew richer by Rs 32.49 lakh crore, helped by massive returns in the equity market which had a roller-coaster ride during the year hit by the coronavirus pandemic.
“Jubilation continues for the fourth successive session as the benchmark gained over half a percent amid volatility. Initially, weak global cues led to a muted start in the benchmark however healthy buying interest in the sectors such as FMCG, PSU banks and power aided the indices to inch northward as the day progressed,” said Ajit Mishra, VP – Research, Religare Broking Ltd.