New Delhi- Buoyed by the ongoing rally in domestic equities, the market capitalisation (mcap) of BSE-listed firms surged to a fresh record of Rs 320.94 lakh crore on Friday.
The BSE Sensex jumped 333.35 points or 0.50 per cent to settle at 66,598.91.
Since August 31, the benchmark index has rallied 1,767.5 points or 2.72 per cent.
Helped by the encouraging trend in domestic equities, the market capitalisation of BSE-listed companies jumped to a new all-time high of Rs 3,20,94,202.12 crore.
“Benchmark indices once again defied the weak Asian and European markets trend to post solid gains for the sixth straight session, as lack of opportunity in key economies is prompting investors to increase their bets on India.
“Investors are increasing exposure to stocks of companies that are likely to play a major role in boosting the economy going ahead,” said Amol Athawale, Vice President – Technical Research at Kotak Securities Ltd.
From the Sensex pack, NTPC, Tata Motors, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, HDFC Bank, Reliance Industries, Titan, Power Grid and State Bank of India were the major gainers.
ITC, UltraTech Cement, Tech Mahindra, Tata Steel, Wipro, Tata Consultancy Services and JSW Steel were among the laggards.
“Markets extended rally for the sixth straight session despite weak global cues, as investors remained optimistic about India’s strong growth prospects going ahead,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory. European markets were trading lower. The US markets ended on a mixed note on Thursday.
In the broader market, the BSE midcap gauge climbed 0.92 per cent and smallcap index gained 0.43 per cent.
Among the indices, realty jumped 2.13 per cent, capital goods climbed 1.51 per cent, power (1.48 per cent), oil & gas (1.43 per cent), consumer durables (1.35 per cent) and energy (1.33 per cent).
Commodities, FMCG, and IT were the laggards. (PTI)