Broader market party continues: Mcap of listed companies made a new high

BSE has increased the acquisition price for its proposed Rs 375-crore buyback from Rs 816 per share to Rs 1,080 per share

Broader market party continues

The five-month winning streak for the Sensex and the Nifty was snapped with the benchmark indices dropping nearly 3 per cent in August. The broader markets, however, continued to make positive strides with the Nifty Midcap 100 and Nifty Smallcap 100 rising 3.7 per cent and 4.6 per cent, respectively.

On Friday, smallcaps extended their outperformance. Thanks to the rally in the broader market, the mcap of all-BSE listed companies hit a new record high of Rs 312 trillion on Friday.

Net inflows from both mutual funds and foreign portfolio investors remained positive in August. The highlight of the month was large share sales by promoters and private equity (PE) funds, who mopped up a cumulative of over Rs 60,000 crore, highest for any calendar month. IT stocks were among the outperformers, while financial services were laggards.