After BSE, Mcap Of NSE-listed Companies Touches $ 5 Tn
From USD 2 trillion to USD 3 trillion took about 46 months, USD 3 trillion to USD 4 trillion took about 30 months and the latest USD 1 trillion addition took just six months
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 National Stock Exchange (NSE) too reached a similar level on Thursday.
The journey of the market capitalisation 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 top five companies by market capitalisation are Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, and Bharti Airtel, as per NSE.
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.
Subsequently, 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.
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 31 May, a day before the usual normal date of 01 June.
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. (ANI)
