Driven by bullish sentiment in equities, the market capitalisation of BSE-listed companies jumped to an all-time high of Rs 2,47,30,108.97 crore on Monday.
Extending its winning momentum for the third session, the 30-share BSE benchmark Sensex ended 765.04 points or 1.36 per cent higher at 56,889.76, its new closing peak. During the day, it jumped 833.55 points to its lifetime high of 56,958.27. In three days, the benchmark has gained 945.55 points.
Thanks to the winning run in equities, the market capitalisation of BSE-listed companies zoomed to Rs 2,47,30,108.97 crore. In a tweet, BSE CEO Ashish Chauhan said "congratulations India" as he mentioned about the equity market capitalisation on the exchange reaching an "all time high of USD 3.37 trillion. (INR 2.47 crore crore)". He also tagged the handles of Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman in the tweet.
Investors have become richer by Rs 5,76,600.66 crore in three days of market rally. The 30-share BSE index had closed above the 56,000-mark for the first time on Friday. "Stocks surged through the day on positive global cues buoyed by the Fed commentary," said S Ranganathan, Head of Research at LKP Securities.
Bharti Airtel was the biggest gainer among the 30-share frontline companies pack, followed by Axis Bank, Tata Steel and Titan. Tech Mahindra, Nestle India, Infosys and TCS were the laggards. In the broader market, the BSE midcap and smallcap indices gained up to 1.72 per cent. "Notably, dovish commentary from Federal Reserve chairman in Jackson Hole Symposium lifted investors' sentiments globally," said Binod Modi, Head - Strategy at Reliance Securities.