BSE Market Update: Rs 315 Lakh Crore Valuation Achieved by Listed Firms

The market capitalization of BSE-listed companies hit an all-time high of Rs.315 lakh crore on Monday, helped by strong investor sentiment amid encouraging domestic macro data and a strong trend in global equity markets. The BSE benchmark Sensex rose 240.98 points, or 0.37%, to  65,628.14. On the day, it rose 296.75 points, or 0.45%, to 65,683.91.  The barometer closed at 555 on Friday.75 points or 0.86% to 65,387.16.

In two days, investors&039; Assets increased by Rs.5,41,951.7 crore. The market capitalization of companies listed on the BSE was Rs.3,15,01,090,400 crore.

The second trading session witnessed an expansion in market gains as optimism regarding a potential halt in US Federal Reserve interest rate increases intensified. In addition, reports that China is taking steps to revitalize the country’s real estate sector have boosted confidence. Shrikant Chouhan,  Research Manager (Retail) at Kotak Securities Ltd said.  Manufacturing activity in India regained strength in August, according to a survey released on Friday. New orders and production grew at the fastest pace in almost three years.

GST revenue rose 11% to over Rs.1.59 lakh crore in August thanks to improved compliance and reduced tax evasion, with experts predicting there will be even more mops in the coming holiday season. Domestic passenger car sales hit a record high in August, helped by Maruti Suzuki’s highest-ever monthly deliveries amid holiday demand and continued strong demand for SUVs.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong closed higher. European markets behaved positively from the first trade. US stock markets closed mostly positive on Friday. Wipro is the top earner in the Sensex group, earning 4.34%. Other notable earners included HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services, and State Bank of India.

Mahindra & Laggards include Mahindra, Axis Bank, ITC, Asian Paints, Bajaj Finance and Nestle.  In the broader market, the BSE index for medium-sized companies rose by 0.96% and the index for small companies by 0.84%.

Among indices, metals are up 2.72%, commodities are up 1.94%, Media is up 1.91%, IT is up 1.74%, Power (1.55%), Teak (1.51%), and Utilities (0.59 percent). As per the latest Friday’s stock market figures, foreign institutional investors (FIIs) acquired shares valued at Rs.487.94 crore. “The latest national macroeconomic data paints a positive picture of domestic markets, allowing them to maintain their momentum. Although Nifty Auto’s earnings hit record highs, the market rallied on strong buying in IT stocks,” he added. said Vinod Nair, director of research at Geojit Financial Services.

The surge in America’s joblessness rate affirmed predictions of a temporary halt in interest rate increases, and encouraging global indicators additionally bolstered Nair’s assessment.

 

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