NEW DELHI: The Bombay Stock Exchange (BSE) on Monday said the cumulative market capitalisation of all the listed companies on its platform has hit the $3-trillion mark for the first time.“Market capitalization of equities of listed companies on @BSEIindia reached $3 trillion intra day for the first time ever. A great milestone on a long journey. Congratulations to all 6.9 crore+ registered investors, 1400+ brokers, 69,000+ MF distributors and 4700+ companies,” Ashishkumar Chauhan, CEO of BSE, said in a tweet.
This coveted feat was achieved after the 30-stock index zoomed 2,000 points in the last seven sessions amid falling Covid-19 cases in India from as the second Covid wave seems to be ebbing. On Friday alone, the Sensex closed 975 points higher at 50,540 and Nifty rose 269 points to 15,175.
Investor wealth has been touching new highs this year despite the economy registering a big fall last year and facing a brutal second wave of the coronavirus pandemic, which is still wreaking havoc on the economy. BSE’s market cap had hit the Rs 200 lakh crore mark for the first time ever on February 4, 2021. At present, the market wealth on BSE stands at Rs 218.97 lakh crore.
The present surge also comes even as foreign institutional investors have become net sellers. According to data available, foreign portfolio investors withdrew Rs 6,370 crore from equities and pumped in Rs 1,926 crore in the debt segment between May 1 and 21, 2021.