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Market valuation of BSE-listed companies soars to record Rs 118 lakh cr

Sensex rallied over 241 points to end at six-month high on Wednesday, cheering Q3 GDP data


Press Trust of India  |  New Delhi 

bse, sensex, bull

Total market valuation of all BSE-listed companies on Wednesday surged to an all-time high of over Rs 118 lakh crore after a rally in the broader market.

The market capitalisation of BSE-listed companies rose to Rs 1,18,19,635 crore ($1.7 trillion).

The benchmark Sensex rallied over 241 points to end at about six-month high of 28,984.49 points on Wednesday. The gauge had lost 149.65 points in the previous two sessions.

"Surprising positively, Q3 GDP (gross domestic product) numbers showed little signs of demonetisation's impact. Continued expansion in manufacturing PMI (Purchasing Managers' Index) also served to add more legs to market's run, while Trump's softened immigration stance shored up IT stocks," said Anand James, Chief Market Strategist, Geojit Financial Services.

The government on Tuesday pegged GDP growth at a higher-than-expected 7.1 per cent for the current financial year despite note ban with agriculture sector doing exceptionally well, helping India retain the tag of world's fastest growing major economy.

From the 30-share Sensex pack, 21 ended higher while 9 ended lower.

The realty index gained the most by surging 3.46 per cent, followed by the metal index (1.91 per cent) and FMCG index (1.30 per cent).

A total of 1,662 stocks advanced while 1,189 declined and 191 remained unchanged on on Wednesday.

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First Published: Wed, March 01 2017. 20:41 IST