BSE-listed companies’ m-cap hits record Rs 431.67 lakh crore

Rising for the second day in a row, the BSE benchmark jumped 538.89 points or 0.70 to hit its lifetime peak of 77,145.46.
BSE Sensex. Image used for representation purposes only.
BSE Sensex. Image used for representation purposes only.(File Photo)

NEW DELHI: The combined market capitalisation (m-cap) of BSE-listed companies hit a fresh record of Rs 431.67 lakh crore on Thursday as the benchmark Sensex reached its new lifetime high level.

Rising for the second day in a row, the BSE benchmark jumped 538.89 points or 0.70 to hit its lifetime peak of 77,145.46.

The Sensex later ended at a fresh record high at 76,810.90, up 204.33 points or 0.27%. In two days, investors’ wealth has risen by Rs 4.72 lakh crore.

“The domestic equity benchmark traded with a modest gain, with domestic CPI data indicating that inflation is on a slow track of decline,” according to Vinod Nair, Head of Research, Geojit Financial Services.

Retail inflation continued its downward slide to reach a one-year low of 4.75%

in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank’s comfort zone of below 6 per cent, according to government data released on Wednesday.

Among the 30 Sensex companies, Mahindra & Mahindra, Titan, Larsen & Toubro, IndusInd Bank, Tech Mahindra, UltraTech Cement, Wipro, Tata Consultancy Services, Bajaj Finance and Nestle were the biggest gainers. On the other hand, Hindustan Unilever, Power Grid, Axis Bank, Bharti Airtel, ICICI Bank and ITC were among the laggards.

In the broader market, the BSE smallcap gauge climbed 0.89%, and midcap index rallied 0.79%. Among the indices, realty jumped 2.15%, capital goods (2.05 per cent), industrials (1.67%), IT (1.08%) and consumer discretionary (0.88%).

In contrast, telecommunication, bankex and metal were the laggards. A total of 2,345 stocks advanced, 1,539 declined, and 100 remained unchanged on the BSE.

Federal Reserve officials said on Wednesday that inflation has fallen further toward their target level in recent months but signalled that they expect to cut their benchmark interest rate just once this year.

The policymakers’ forecast for one rate cut was down from a previous forecast of three, likely because inflation, despite having cooled in the past two months, remains persistently elevated.

Rupee falls 7 paise to close at 83.55 against US dollar

New Delhi: Rupee settled for the day lower by 7 paise at 83.55 (provisional) against US dollar on Thursday even as both domestic equity benchmark indices touched all-time high. Forex traders said rupee was seen resilient against dollar, even after volatility witnessed in the dollar index, due to CPI data and US Fed’s policy decision. At the interbank foreign exchange, the local unit opened at 83.52 and settled lower by 7 paise at 83.55.

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