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Wednesday, October 4, 2023

Market valuation of BSE-listed companies hits all-time high of Rs 303.59 lakh crore

NEW DELHI: The market capitalization of BSE-listed companies hit an all-time high of Rs 303.59 lakh crore as investors continued to be optimistic and the benchmark sensex hit a record high of 66,656.21 points on Monday.
The 30-stock BSE Sensex rose 529.03 points, or 0.80 percent, to settle at its new closing record high of 66,589.93 points. Hours earlier, the index jumped 595.31 points, or 0.90 percent, to hit its intraday high of 66,656.21 points.
Thanks to the rally, the market capitalization (mcap) of BSE-listed companies rose to a record high of Rs 3,03,59,528.96 crore.
“Markets were in sublime shape as benchmark indices scaled new highs on the back of a rally in bank stocks after HDFC Bank posted better-than-expected first-quarter results. Most of the corporate results announced so far have more or less met expectations, which shows the improving health of our economy,” said Shrikant Chouhan, head of research (retail) at Kotak Securities Ltd.
The rally came despite weakness in European markets and a mixed finish in key Asian indicators, it added.
From the sensex package, State Bank of India, Wipro, Reliance Industries, HDFC Bank, Kotak Mahindra Bank, Tech Mahindra, IndusInd Bank and Asian Paints were the top winners.
HDFC Bank rose 2 percent after the company reported a 29.13 percent rise in consolidated net profit for the June quarter to Rs 12,370.38 crore.
Tata Motors, JSW Steel, Bharti Airtel and Titan were among the laggards.
In the broader market, the BSE small-cap gauge rose 0.85 percent and the mid-cap index rose 0.29 percent.
Among indices, bankex jumped 1.45%, financial services up 1.11%, healthcare (0.81%), commodities (0.72%), energy (0.62%) ) and oil and gas (0.38%).
Telecommunications, automobiles and real estate were the laggards.
A total of 1,993 shares advanced while 1,676 declined and 187 remained unchanged on the BSE.

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