BSE total Market cap value touches new benchmark
The landmark came on a day when the Sensex hit a record high of 28,822 in intra-day trade.
According to reports, the total market cap of all BSE listed companies had crossed the Rs. 10 lakh crore mark nearly 11 years ago in 2003.
In the last five years, BSE's market cap doubled from about Rs. 50 lakh crore to Rs 100 lakh crore today.
In terms of market value, BSE is among the world's ten largest exchanges.
On the other hand, the market ended at new record closing high on Friday following further fall in crude oil prices after the OPEC decided not to cut output.
Hopes of rate cut or indication of rate cut in monetary policy on December 2 also pushed market higher.
The Sensex rose 255.08 points or 0.90 percent to close at 28693.99 and the Nifty climbed 94.05 points or 1.11 percent to 8588.25.
About 1499 shares have advanced, 1521 shares declined, and 99 shares are unchanged on the Bombay Stock Exchange.
Similarly, the broader 50-issue CNX Nifty of the NSE also flared up by 94.05 points or 1.11 pct to register its fresh closing peak of 8,588.25.
It also hit new intra-trade peak of 8,617.00.
It has been learnt tnat Market caps of domestic exchanges generally mirror the GDP of their economies.
India's GDP is estimated at around $1.9 trillion, about one-eighth of USA's GDP which is pegged at $16.8 trillion.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
