The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 346.47 lakh crore today, as key benchmark indices Sensex and Nifty scaled new peaks on Tuesday, amid persistent foreign fund inflows.
Following the sharp uptick in the market, equity investors have become richer by Rs 2.99 lakh crore.
Analysts said foreign institutional investors have reversed their selling strategy and have been consistent buyers during the last seven days. This momentum is a reflection of institutional confidence in the Indian market, they said.
The BSE Sensex jumped 431.02 points, or 0.63 per cent, to close at a new record high of 69,296.14. The broader index Nifty also climbed 168.50 points, or 0.81 per cent, to hit its lifetime high of 20,855.30.
Following the rally, the market capitalisation of BSE-listed firms jumped by Rs 2.99 lakh crore to Rs 346.47 lakh crore at the end of Tuesday's trading session, from Rs 343.48 lakh crore on Monday.
Among major Sensex movers, PowerGrid rose the most by 4.46 per cent, NTPC by 3.89 per cent, SBI by 2.31 per cent and ICICI Bank by 2.28 per cent. Other gainers included Mahindra & Mahindra, Titan and Maruti.
As many as 20 stocks of the 30-share benchmark closed with gains, while among Nifty firms, 32 shares registered gains.
Foreign institutional investors purchased shares worth Rs 2,073.21 crore on Monday, according to exchange data.
In six trading sessions, investors' wealth has gone up by Rs 17.75 lakh crore.
The combined market valuation of all listed companies on the BSE reached the USD 4 trillion-milestone for the first time ever on November 29.
The market capitalisation of listed companies on the NSE has surpassed the USD 4 trillion (Rs 334.72 trillion) mark for the first time ever on December 1.
In the broader market, the BSE largecap index surged 1.01 per cent, midcap gauge gained 0.14 per cent and smallcap advanced marginally by 0.12 per cent.
Among sectoral indices, utilities surged the highest 6.54 per cent followed by power rising by 6.09 per cent. While services index went up 3.93 per cent, commodities advanced 2.04 per cent and oil & gas jumped 1.84 per cent. Bankex rose 1.21 per cent and energy inched up by 1.17 per cent.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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