Stock market reached the highest level, BSE Sensex record high, investors’ silver
New Delhi | The market capitalization of companies listed on BSE reached a new high of Rs 294.49 lakh crore in Wednesday’s trade. The benchmark Sensex reached its all-time high of 63,588.31.
In morning trade, the 30-share BSE Sensex was trading at an all-time high of 63,588.31, up 260.61 points or 0.41 per cent. Let us tell you that earlier on December 1 last year, Sensex had touched its intra-day record peak of 63,583.07.
The market capitalization (MCAP) of BSE-listed firms rose sharply in morning trade on the back of an optimistic trend in equities. The rally helped the mcap of the market reach an all-time high of Rs 2,94,49,069.63 crore. Buying in index majors HDFC Twins and Reliance Industries strengthened the markets.
Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS, said:
Sensex touched all-time high and Nifty 50 is a few points away from all-time high. The Indian market has witnessed a solid rally in the last few months, especially in the mid and small-cap space. Markets remain positive on positive FII inflows, strong economic growth vis-à-vis other EM countries, strong earnings outlook and strength in banking sector and well-performing private capex cycle.
The Indian economy and its growth rate stand on good parameters and a new base of stability is being created against the backdrop of an unstable global economy.
Power Grid, HDFC Bank, HDFC, Larsen & Toubro, Reliance Industries, Wipro, Hindustan Unilever and UltraTech Cement were the major gainers from the Sensex pack. Tata Motors, Tata Steel, Maruti, Axis Bank, ICICI Bank and Asian Paints were among the laggards.
In Asian markets, Tokyo was trading in the green, while Seoul, Shanghai and Hong Kong were trading lower.
US markets closed down on Tuesday. Global oil benchmark Brent crude climbed 0.46 per cent to $76.24 per barrel. Foreign institutional investors (FIIs) sold shares worth Rs 1,942.62 crore on Tuesday, according to exchange data.
The 30-share BSE benchmark closed 159.40 points, or 0.25 per cent, higher at 63,327.70 on Tuesday. The Nifty closed at 18,816.70, up 61.25 points or 0.33 per cent.
