The combined market valuation of all listed companies on the Bombay Stock Exchange (BSE) touched the $ 4 trillion (about Rs 333 lakh crore) milestone for the first time ever on November 29, 2023.
This underlines a gain of more than $600 billion since the beginning of FY24, highlighting the strong performance of the BSE-listed firms. The 30-share BSE Sensex surged by 305.44 points to 66,479.64 in early trade after beginning the day on a positive note.
Backed by the optimism in equities, the market capitalisation (m-cap) of BSE-listed companies touched Rs 3,33,26,881.49 crore in morning trade, translating into $4 trillion at the exchange rate of 83.31.
While the benchmark index S&P BSE Sensex has rallied 5,540.52 points or 9.1% so far in FY24, the m-cap of all listed firms on its platform has surged to about Rs 50.81 lakh crore. The rise in Indian equity benchmarks was primarily driven by the IT sector, with Nifty IT stocks gaining 1.5%.
The 30-share benchmark index reached its all-time peak of 67,927.23 on September 15, 2023. Interestingly, the other markets valued over $4 trillion of m-cap include countries such as the US, China, Japan and Hong Kong.
Earlier, on May 24, 2021, the market m-cap of all listed companies on the BSE touched the $3-trillion mark. The exchange had witnessed listed firms’ valuation breaching the $1-trillion level way back on May 28, 2007.
The jump from $1 trillion to $1.5 trillion was completed in 2,566 days, or just more than seven years, on June 6, 2014. The m-cap of its listed companies touched $2 trillion on July 10, 2017, taking 1,130 days from the $ 1.5 trillion level. After this, it took 1,255 days to breach the $2.5-trillion mark on December 16, 2020.
Rajiv is an independent editorial consultant for the last decade. Prior to this, he worked as a full-time journalist associated with various prominent print media houses. In his spare time, he loves to paint on canvas.
