NEW DELHI: For the first time ever, the combined market capitalisation (m-cap) of all the companies listed on the Bombay Stock Exchange (BSE) has crossed the Rs 300 lakh crore mark. This milestone has come on the back of the strong rally, aided by huge money poured in by foreign institutional investors (FII). According to the exchange data, the combined m-cap of 5,261 BSE-listed firms stood at Rs 30,012,769.24 crore by the end of Wednesday’s trading session. The combined value of the top 10 companies was Rs 7,894,840.04 crore.
Domestic equity market value is now more than its FY23 gross domestic product (GDP) and is on par with the FY24 GDP projection. According to official data, the size of the Indian economy stood at about Rs 273 lakh crore in FY23. The nominal GDP for 2023-24 is expected to be Rs 301 lakh crore.
It took only two years and six months for the m-cap of listed companies to surge from Rs 200 lakh (February 2021) to Rs 300 lakh crore. In contrast, it had taken over six years for the m-cap to grow from Rs 100 lakh crore to Rs 200 lakh crore. The milestone of Rs 100 lakh crore m-cap was first achieved in December 2014.
According to Bloomberg data, the total market capitalisation (both in rupee and dollar terms) of all listed firms on the BSE rose 18.5% from March 28 to date. So far in 2023, it gained nearly 6.6%. Equity benchmarks- BSE Sensex and NSE Nifty have surged about 13% each since March 28. The broader indices -- BSE MidCap and BSE SmallCap -- have grown at a much faster pace of 23% each between March 28 and now.
In dollar terms, India’s market value is pegged at $3.6 trillion, making it the fifth-largest global equity market in the world. However, India’s share of the total world market cap is just 3.3%.The US market occupies the top spot with over 44% share, followed by China, Japan and Hong Kong.