First time combined stock market cap exceeds Rs 400L cr

Monday saw the Sensex, gold, and silver reach fresh highs in a rare coincidence. The cumulative market capitalization of all BSE-listed businesses crossed Rs 400 lakh crore for the first time due to rising share prices.

The wider Nifty finished at a record 22,666.30 points, while the 30-company Sensex touched 74,869.30 points intra-day. The gold price in Delhi rose from Rs 350 to Rs 71,700 per 10 kilos from the previous week. Since January, gold has gained Rs. 7,700 per 10 grams. Silver prices reached an all-time high of Rs 84,000 per kg, up Rs 800 since last week.

With conflict looming, gold is in demand as a safe haven currency, but silver is also rising due to its usage in green energy, particularly solar systems.

Nifty rose 152.60 points and Sensex 494.28 points on Monday. Motilal Oswal analysts credited the stock market bull run to positive economic data releases, including GDP, employment, and manufacturing statistics, as well as global economic recovery. Some black swan incidents since 2020 have boosted the precious metals pack. Year after year, geopolitical concerns have raised market risk premiums. The pandemic, Russia-Ukraine war, and Israel-Hamas conflict have supported safe haven assets, it said.