Total market valuation of all listed companies on the BSE rose to a new high of Rs 160.68 lakh crore on Friday following a bullish sentiment in the equity market.
During the week, the Sensex advanced 1,812.44 points or 4.68 per cent.
Total market valuation of all listed companies on the BSE rose to a new high of Rs 160.68 lakh crore on Friday following a bullish sentiment in the equity market. Extending its gains for the seventh straight session — the longest winning streak in almost a year — the 30-share BSE Sensex rose by 326.82 points or 0.81 per cent to close at 40,509.49. During the week, the Sensex advanced 1,812.44 points or 4.68 per cent. Tracking gains in the broader market, the market capitalisation of the BSE-listed companies zoomed to Rs 1,60,68,725.10 crore at close of trade on Friday.
Stock market benchmarks rallied on Friday as financial stocks advanced following the Reserve Bank of India’s (RBI) accommodative policy stance and steps to boost liquidity to the banking sector. The benchmark repurchase (repo) rate has been left unchanged at 4 per cent, RBI Governor Shaktikanta Das said while announcing the decisions taken by the Monetary Policy Committee (MPC). “Markets are trading currently at their peak, aided by fast recovery of economic activities and increased rural demand.
“Over the week, benchmark indices have ascended to new high supported by restoration of industrial activity near pre-COVID-19 level, good start to Q2 result, in anticipation of stimulus in India and positive monetary measures by MPC,” Vinod Nair, head (research) at Geojit Financial Services. He added that global markets remained positive throughout the week, as corporate deals and transactions revived in spite of an increase in COVID-19 cases.
RIL is the country’s most-valued firm with a market valuation of Rs 15,10,436.34 crore, followed by Tata Consultance Services (Rs 10,56,277.53 crore), HDFC Bank (Rs 6,78,991.98 crore), HUL (Rs 5,02,534.84 crore) and Infosys (Rs 4,71,751.13 crore). A host of new listings like Computer Age Management Services and Happiest Minds Technologies have also added to the total market capitalisation of the BSE-listed companies.