BSE-listed firms hit record high m-cap of Rs. 331L crore
What's the story
On November 28, the total market value of companies listed on the BSE reached a record-breaking Rs. 331 lakh crore, just short of the $ 4 trillion milestone. This achievement follows a late surge in the equity market today after a period of intense volatility. Back in May 2021, the market capitalization of all BSE-listed firms had crossed the $3 trillion mark.
Details
Today's market performance
The BSE Sensex, consisting of 30 shares, rose by 204.16 points or 0.31% to close at 66,174.20 on Tuesday, driven by gains in power, metal, and auto stocks. Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., explained, "Hopes of strong growth momentum going ahead and receding worries of rate hikes in the US strengthened the mood." He also mentioned that foreign institutional investors (FIIs) becoming net buyers of local equities in recent sessions has boosted market sentiment.
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Gainers and losers
Notable gainers among Sensex companies today included Tata Motors, Bajaj Finserv, UltraTech Cement, Bajaj Finance, NTPC, Bharti Airtel, Titan, and Axis Bank. ITC, ICICI Bank, Power Grid, and HDFC Bank on the other hand experienced losses. Among the indices, utilities surged 3.64%, power increased 3.47%, oil & gas rose 2.28%, and energy advanced 2.43%. FMCG, pharma, telecom, industrials, and capital goods remained laggards for the day.