Market capitalisation crosses $2.7 trillion

BSE’S market capitalisation on Wednesday surpassed $2.7 trillion for the first time, said chief executive officer Ashish Chauhan in a tweet on a day when equity benchmarks galloped to lifetime highs. The rally came in a lockstep with global markets that surged ahead of US President-elect Joe Biden’s inauguration amid expectations of fresh stimulus by the incoming US administration. Rallying for the second straight day, the 30-share BSE Sensex advanced by 393.83, or 0.80%, to close at its fresh record of 49,792.12. Broader NSE Nifty jumped 123.55 points, or 0.85%, to settle at a lifetime high of 14,644.70. Also moving the markets were expectations of positive announcements from India’s upcoming budget, said Ajit Mishra, vice president, research at Religare Broking.