BSE-listed firms’ market valuation touches all-time high of Rs 303.59 lakh crore – Times of India

NEW DELHI: The market capitalisation of BSE-listed firms reached an all-time high of Rs 303.59 lakh crore as investors continued to be bullish and benchmark sensex hit a record 66,656.21 points on Monday.
The 30-share BSE Sensex climbed 529.03 points, or 0.80 per cent, to settle at its new lifetime closing high of 66,589.93 points. Earlier in the day, the index jumped 595.31 points, or 0.90 per cent, to reach its intra-day peak of 66,656.21 points.
Thanks to the rally, the market capitalisation (mcap) of BSE-listed firms climbed to a record high of Rs 3,03,59,528.96 crore.
“Markets were in sublime form as benchmark indices scaled fresh peaks on the back of a rally in banking stocks after HDFC Bank announced better-than-expected Q1 results. Most corporate results announced so far have more or less met expectations, which shows the improving health of our economy,” Shrikant Chouhan, head of research (retail) at Kotak Securities Ltd, said.
The rally came despite weakness in European markets and a mixed ending in key Asian gauges, he added.
From the sensex pack, State Bank of India, Wipro, Reliance Industries, HDFC Bank, Kotak Mahindra Bank, Tech Mahindra, IndusInd Bank and Asian Paints were the major gainers.
HDFC Bank climbed 2 per cent after the company reported a 29.13 per cent jump in consolidated net profit for the June quarter at Rs 12,370.38 crore.
Tata Motors, JSW Steel, Bharti Airtel, and Titan were among the laggards.
In the broader market, the BSE smallcap gauge climbed 0.85 per cent and the midcap index advanced 0.29 per cent.
Among the indices, bankex jumped 1.45 per cent, financial services climbed 1.11 per cent, healthcare (0.81 per cent), commodities (0.72 per cent), energy (0.62 per cent) and oil & gas (0.38 per cent).
Telecommunication, auto, and realty were the laggards.
A total of 1,993 stocks advanced while 1,676 declined and 187 remained unchanged on the BSE.