BSE market cap hits a record ₹156.6 lakh crore
MUMBAI : Market valuation of all listed companies on the B SE hit a lifetime high of ₹156.60 lakh crore on Monday, following strong gains in the benchmark Sensex, and closed at ₹156.55 lakh crore at the end of the day’s trade.
The previous peak in market cap was ₹156.56 lakh crore on 23 January.
Total market capitalization of all listed companies on the BSE rose 3.17% from the beginning of this year. In dollar terms, however, the market cap fell 5.6% to $2.24 trillion from the beginning of the year, Bloomberg data showed.
Supported by strong global cues, Indian benchmark indices were at a record closing high with the Nifty breaching the 11,500mark for the first time ever. The 50-share Nifty ended at 11,551.75 81.00, up 0.71%, while the Sensex rose 330.87 points or 0.87% to 38,278.75 points.
Most Asian share markets crept cautiously higher on Monday as investors awaited developments on the proposed Sino-US trade talks and the Chinese yuan rallying from alarming lows. MSCI’s broadest index of AsiaPacific shares outside Japan climbed 0.6%. Hong Kong’s Hang Seng index added 0.9%.
Moves were modest elsewhere with Shanghai blue chips barely changing and Japan’s Nikkei ending 0.3% lower in thin trade. Investors were also encouraged by news that China and the US will hold low-level trade talks this month, offering hope that they might resolve the escalating tariff war.
Reports suggested the talks in Washington will take place on 21-22 August, just before the US tariffs on $16 billion of Chinese goods take effect.
Deepak Jasani, head of retail
research at HDFC Securities Ltd, said the markets were buoyant because the earnings season was better-than-expected, while the concerns over the crisis sur-
rounding Turkey’s economy and of a looming trade war have had limited impact on India.
(Reuters contributed to this story)