The m-cap of BSE-listed companies is at a new record high of over Rs 270.24 lakh crore.
Helped by continued rally in equities, the market capitalization of BSE-listed companies touched a new record high of Rs 2,70,24,154.49 crore in morning trade on Wednesday.
Rallying for the fifth consecutive session on Wednesday, the 30-share BSE benchmark jumped 376.44 points to hit its all-time high of 60,660.75. The BSE benchmark index has gained 1,471.02 points in five trading days.
Inspired by the ongoing rally, investors’ wealth has also risen by Rs 8,03,607.44 crore in five days.
“A significant trend in the market in recent times is market resilience despite selling by both FIIs and DIIs. This new trend reinforces the dominance of retail investors and the success of the ‘buying strategy on dips’. We don’t know how. Long term this trend will continue and this strategy will work. But now the trend is strong and may continue till some event triggers a trend reversal,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
He further added that Infosys, Wipro and Mindtree’s Q2 results today will be crucial for the IT sector which has been underperforming after TCS results fell below market expectations.
M&M was the biggest gainer in the pack of 30-share BSE benchmark companies, rising nearly 5 per cent, followed by Titan, Tata Steel and PowerGrid.
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