: Mcap of BSE-listed firms at all-time high #finance #StockMarketNEWS #Business Press Trust of India New Delhi The market capitalisation of BSE-listed firms reached an all-time high of over `280.52

Posted in: #finance #StockMarketNEWS #Business

Mcap of BSE-listed firms at all-time high #finance #StockMarketNEWS #Business
Press Trust of India

New Delhi

The market capitalisation of BSE-listed firms reached an all-time high of over `280.52 lakh crore on Thursday, helped by a continuous rally in equities.

The 30-share BSE Sensex ended 37.87 points or 0.06% higher at 60,298. This is the benchmark’s fifth straight session of gains.

Tracking rally in equities, the market capitalisation of BSE-listed firms jumped to `2,80,52,760.91 crore on Thursday. Earlier on January 17, the market capitalisation (mcap) of BSE-listed firms had reached a lifetime high of `2,80,02,437.71 crore.

“Recent gains in Indian indices have been helped by a combination of factors, including encouraging macro data, fall in commodity prices, slowing inflation that may lead to central banks globally softening their monetary policy stance earlier than expected etc. Return of buying by FPIs has also helped,�? said Dhiraj Relli, MD & CEO, HDFC Securities on BSE market cap reaching at a new all-time high.

Persistent foreign fund inflows have further bolstered investor sentiment of late.

“We’re in the fifth successive week of advance and rotational buying across sectors helping the index maintain the prevailing trend,�? Ajit Mishra, VP Research, Religare Broking Ltd, said. Kotak Mahindra Bank was the biggest gainer in the Sensex pack, climbing 3.45 per cent, followed by Larsen & Toubro, Bharti Airtel, IndusInd Bank, UltraTech Cement, Power Grid, State Bank of India and ITC.

On the other hand, Dr Reddy’s Laboratories, Wipro, Infosys, Mahindra & Mahindra, Axis Bank and Nestle were among the laggards.

In the broader market, the BSE midcap gauge gained 0.42% and the smallcap index climbed 0.34%.

Sectorally, BSE realty jumped 1.76%, followed by utilities (1.09%), capital goods (0.91%), industrials (0.90%), bankex (0.68%) and telecom (0.57%).

Energy, healthcare, IT, auto, metal, teck and oil & gas were the laggards.

Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they bought shares worth Rs 2,347.22 crore on Wednesday, according to exchange data.