Mcap of BSE-listed Companies Hits Record High of Rs. 297.94 Lakh Cr.

In the opening hours of trading on Monday, the benchmark Sensex crossed the historic 65,000 mark for the first time ever amid optimistic investor attitudes, pushing the market capitalization of BSE-listed companies to a new high of Rs 297.94 lakh crore.

In early trade, the BSE benchmark increased by 514.08 points to reach a new high of 65,232.64. On Monday, the benchmark has been rising for four straight trading sessions.

Market capitalization (mcap) of BSE-listed businesses increased to Rs 2,97,94,780.47 crore in early trade as a result of the continuing stocks surge.

The market value of companies listed on the BSE reached an all-time high of Rs 296.48 lakh crore on Friday.

The main gainers from the Sensex pack included HDFC, HDFC Bank, UltraTech Cement, Tata Steel, Bajaj Finance, ICICI Bank, Mahindra & Mahindra, State Bank of India, Reliance Industries, and Bajaj Finserv.

Among the laggards were Power Grid, Maruti, Larsen & Toubro, Tech Mahindra, Axis Bank, Hindustan Unilever, and Asian Paints.

Seoul, Tokyo, Shanghai, and Hong Kong were all trading in the black on Asian markets.

On Friday, US markets closed much higher.

To reach USD 75.47 per barrel, benchmark Brent crude saw a 0.08 percent increase.

According to exchange statistics, foreign portfolio investors (FPIs) purchased shares of stock on Friday for a total value of Rs 6,397.13 crore.

The greatest inflow in ten months was made by FPIs in June, when they invested Rs 47,148 crore in Indian stocks.

For the fourth time since the implementation of the indirect tax system, GST receipts exceeded Rs 1.60 lakh crore, climbing 16% to over Rs 1.61 lakh crore in June, the Finance Ministry reported on Saturday.

The BSE benchmark increased by 803.14 points, or 1.26%, to close at a record-setting 64,718.56 on Friday. To finish at a record high of 19,189.05., the Nifty gained 216.95 points, or 1.14 percent.

Investors are hoping that FIIs would continue to boost their exposure to Indian markets given the country’s robust development trajectory after key benchmark indices reached new highs last week. The increasing economic growth momentum is further evidenced by India’s record June GST receipts, according to Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.