BSE Hits Record $3-Trillion Market-Capitalization for the First Time Ever
In May itself, the market cap of BSE companies swelled by ₹11.03 trillion.
BSE on Monday said that the market capitalization of all the listed companies on its platform hit the $3 trillion mark intra day for the first time in history. “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," Ashish Chauhan, chief executive officer of BSE said in a tweet.
The S&P BSE Midcap hit a fresh record high of 21,485.75 on Friday while the S&P BSE Smallcap index hit a high of 23,130.40.
“As domestic Covid cases fell below the 3 lakh mark, helped by the extended lockdowns by major states, sentiments have turned buoyant. Hopes have accelerated that soon restrictions/curbs would be eased once cases decline further. Even the news flows around vaccination front is boosting confidence as more Pharma companies are tying up for vaccine manufacturing. Visibility on economic recovery front improves as industrial activities largely continued even during the lockdown and now with restrictions likely to ease, consumer demand is expected to make a come-back. Thus investors are heading more for mid-cap stocks as growing risk appetite and cheaper valuations of these companies compared to large-cap peers have revived their popularity," said Siddharth Khemka, head of retail research, Motilal Oswal Financial Services.
Overseas investors withdrew ₹4,444 crore from Indian markets in May. As per depositories data, foreign portfolio investors (FPIs) took out ₹6,370 crore from equities but pumped in ₹1,926 crore in the debt segment between May 1-21.This took the total net outflow to ₹4,444 crore
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