Market capitalisation of BSE-listed firms hits record high amid stock rally

The market capitalisation (mcap) of BSE-listed firms reached an all-time high of Rs 445.43 lakh crore on Wednesday, fueled by a robust rally in equities, with the benchmark Sensex breaching the historic 80,000-mark for the first time.

The 30-share Sensex surged to the historic 80,000-mark earlier in the day, gaining 632.85 points, or 0.79%, to hit a record intra-day high of 80,074.30. The benchmark index later ended near the 80,000-level at 79,986.80, up 545.35 points, or 0.69%.

The market capitalisation of BSE-listed firms peaked at Rs 4,45,43,642.29 crore (USD 5.33 trillion). The Sensex had earlier breached the 78,000 level on June 25 and the 79,000 level on June 27.

"Markets continued their ongoing streak of making new highs supported by firm global trends. Nifty crossed the 24,300 mark while Sensex breached the historic 80,000 mark amid buying in banking stocks," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Among the Sensex constituents, Adani Ports, Kotak Mahindra Bank, HDFC Bank, Axis Bank, IndusInd Bank, State Bank of India, Power Grid, JSW Steel, Bajaj Finance, and Tata Steel were the biggest gainers. Conversely, Tata Consultancy Services, Titan, Reliance Industries, Tata Motors, and Larsen & Toubro were the laggards.

"While the record-breaking spree continued on the bourses, benchmark Sensex breached the 80K-mark for the first time in intra-day trade, primarily fueled by an upsurge in banking stocks. Optimism in global equities weighed positively on Indian markets, which also propelled gains in other sectoral stocks, including the telecom counters," noted Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

In the broader market, the BSE midcap gauge and the smallcap index both climbed 0.86%. Among the indices, bankex rallied 1.75%, financial services jumped 1.55%, and telecommunication (1.44%), services (1.18%), industrials (1.09%), and FMCG (0.81%) were also among the gainers.

A total of 2,355 stocks advanced while 1,566 declined and 100 remained unchanged.