The latest USD 1 trillion addition took just 6 months, said NSE.
Just two days after the market cap of BSE-listed companies touched the milestone of USD 5 trillion, the market capitalisation of companies listed on NSE too reached a similar level on Thursday.
Market capitalisation or market cap is the total value of a company's stock, derived at by multiplying the stock price by the number of its outstanding shares.
The journey of the market capitalization of Indian listed companies on the NSE from USD 2 trillion (July 2017) to USD 3 trillion (May 2021) took about 46 months, USD 3 trillion to USD 4 trillion (December 2023) took about 30 months and the latest USD 1 trillion addition took just six months, the exchange said today
The top five companies by market capitalisation are Reliance Industries Limited, Tata Consultancy Services Limited, HDFC Bank Limited, ICICI Bank Limited, and Bharti Airtel Limited, as per NSE.
As per NSE, the growth in market capitalization is not restricted to the top companies but is observed across stocks.
Ongoing rally in the Indian stock markets helped in reaching this feat. The consistent bull run in Indian stock indices - Sensex and Nifty -- continued through Thursday, and touched fresh highs yet again, reacting to Prime Minister Narendra Modi's assertion that the BJP-led alliance is on track to form the government for a record third term.
Sensex today jumped about 1,200 points and crossed 75,000 for the first time.
Barring a little volatility, Indian stock indices have been firm over the past several sessions, supported by strong support from a majority of sectoral indices. With the five phases of elections now behind us, it is widely expected by investors that the Narendra Modi-led government will come back to office with a comfortable margin for his third term. This also likely triggered fresh stock buying.
Softer-than-expected US consumer inflation in April, and a consistent moderation in inflation in India and the sooner-than-normal arrival of the southwest monsoon in India, as predicted by IMD, mainly buoyed Indian stocks lately. The southwest monsoon is likely to hit Kerala on May 31, a day before the usual normal date of June 1.
Last week, Sensex jumped about 2,000 points, on a cumulative basis. During Tuesday-Thursday this week, Sensex jumped over 1,500 points. On Monday, i.e., yesterday, the stock exchanges were shut for General Elections in Mumbai.
Firm GDP growth forecasts with the country set to remain the fastest growing major economy, inflation at manageable levels, political stability at the central government level, and appreciable central bank monetary policy, have all contributed to painting a bright picture for the Indian economy in recent quarters.
Overseas investors have been remaining net sellers of Indian equities for the past several sessions. Interestingly, domestic institutional investors during the same period stayed net buyers, largely making up for the outflows by the foreign investors.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)