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Maintaining the bullish momentum, the benchmark indices closed in the green on Monday also, led by PSU stocks. Thanks to a strong across-the-board rally, the market capitalisation of BSE-listed companies breached the $3-trillion-mark for the first time.
24 times in 19 years
At the end of the day, the BSE-listed stocks’ market cap stood at ₹218.97 lakh crore. As the rupee too gained 13 paise to end at 72.96 against dollar on Monday, the market cap of listed BSE stocks closed at $3 trillion. According to analysts, this indicates that the market valuation grew 24 times in 19 years.
After moving between 50,875.59 and 50,465.90, the BSE Sensex closed at 50,651.90, up 111.42 points or 0.22 per cent. Nifty 50, which touched a day’s high of 15,256.25, closed at 15,197.70, up 22.40 points or 0.15 per cent.
“Market capitalization of equities of listed companies on @bseindia reached USD 3 trillion intra day for the first time ever. A great milestone on a long journey. Congratulations to all 6.9 crore+ registered investors, 1400+ brokers, 69,000+ MF distributors and 4700 + companies,” BSE's MD and CEO Ashishkumar Chauhan tweeted.
1,967 stocks advance
The breadth of the market remained positive with 1,967 stocks advancing, 1,250 declining and 169 remaining unchanged on the BSE.
As many as 513 securities hit the upper circuit and 218 the lower circuit; 370 hit their 52-week high while 47 touched 52-week low.
Binod Modi, Head Strategy at Reliance Securities, said, “Domestic equities remained upbeat despite mixed global cues as a persistent decline in daily caseload and improvement in recovery rate in second wave of Covid-19 continued to lift investors’ sentiments.”
IOC, BPCL, SBI, L&T and Eicher Motors were the top gainers on the Nifty 50 while Shree Cements, Tata Steel, JSW Steel, Britannia and IndusInd Bank were top losers.
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