On 3 August 2021, the accumulated market capitalisation of BSE-listed companies reached Rs. 240 lakh crores, Rs. 2,40,04,664.28 crores to be precise. This is a record high, as mentioned by the stock exchange. This surge has also rallied its benchmark Sensex to its lifetime high of 53,887.98 points.
Moreover, investors’ wealth has also reached a high of Rs. 4,54,915.38 crores since Friday’s closing bell. In the previous session, Sensex had increased by 363.79 points or 0.69%.
Who are the Biggest Earners?
This record-breaking rally of BSE has primarily helped its 30 frontline listed companies. Among them, Titan was the biggest earner with a jump of about 4%. The watch manufacturing and retailing giant has been followed by HDFC, State Bank of India, Bharati Airtel, UltraTech Cement, IndusInd Bank, and Nestle India.
Apart from them, other heavyweights on this list include TCS and Infosys.
In the list of most valued Indian companies by market cap, Reliance Industries is topping the chart. They have a valuation of Rs. 13,22,978.38 crores. Tata Consultancy Services follows Reliance with a total valuation of Rs. 12,14,823.96 crores.
In third place resides HDFC Bank, with a valuation of Rs. 7,93,554.87 crores and IT behemoth Infosys occupies the fourth position with an accumulated valuation of Rs. 7,04,495.38 crores. Here is the remaining list of organisations –
- Hindustan Unilever Ltd – Rs. 5,60,905.60 crores
- ICICI Bank – Rs. 4,77,940.19 crores
- HDFC – Rs. 4,61,179.43 crores
- State Bank of India – Rs. 3,98,439.28 crores
- Bajaj Finance – Rs. 3,81,975.63 crores
- Kotak Mahindra Bank – Rs. 3,34,417.92 crores
ICICI Bank has crossed HDFC in this process and became the 2nd most valued financial institution in this country.
Gaurav Garg, the head of research at CapitalVia Global Research Ltd, mentioned that market sentiments in India are positive. The GST collection is increasing, and the manufacturing sector is improving, showing a strong growth rate in July amidst relaxing Covid-19 restrictions.
Other market experts refer to the first-quarter earnings reports to justify this surge. According to them, the financial year has begun very well irrespective of the second-wave of Covid-19, which ravaged the country.
Point to note: BSE smallcap and midcap indices have closed the day with up to 0.23% gains in the wider market.
Considering the market performance, especially the stability that it is offering at this stage, one can remain hopeful. Furthermore, the flurry of upcoming IPOs is also an indication of a stable market in the coming months. Therefore, one can only be hopeful that this rallying will not stop anytime soon.
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