The market capitalization of BSE-listed companies soared past ₹400 lakh crore, marking a historic milestone propelled by robust domestic fund inflows, with the Sensex edging closer to the 75,000 mark. Within just nine months, the market added the last ₹100 lakh crore, fueled by enthusiastic investments from local investors.
Back on July 5, 2023, the market celebrated crossing the ₹300 lakh crore market cap threshold when the Sensex stood at 65,446. Since then, the index surged over 14%, but the broader market cap witnessed an impressive 34% leap.
Non-index stocks, particularly mid and small-cap entities, witnessed significant gains during this period. On Monday, the Sensex hit a new lifetime pinnacle of 74,869.3, eventually closing at 74,742.5, up 0.7%, while the Nifty reached 22,697.30 before settling at 22,660.95, also up by 0.7%.
Recent entrants to the market, including Jio Financial Services, contributed approximately Rs 8 lakh crore to the market capitalization since July 5, 2023. Notably, Reliance Industries led the pack by adding Rs 2.61 lakh crore during this period. Other top performers include HDFC Bank, TCS, and Life Insurance Corporation of India, each adding substantial value to the market.
The growth momentum extended beyond large caps, with companies like L&T, Tata Motors, NTPC, SBI, and Adani Green witnessing a surge of over Rs 1 lakh crore in market value since July last year.
This exponential rise in market capitalization is emblematic of India’s vibrant capital markets, witnessing heightened retail investor participation, with demat accounts surging from 106 million to 151 million within a year.
India’s economic prowess is attributed to the Aspirations of people of India to uplift themselves, their lifestyle, and their standard of living. Their is a zeal in Indian youth today both working in corporate jobs and/or having their own startups to make change their current status not only for themselves but also for the coming generations.
In 2023 alone, domestic institutional investors injected Rs 1.85 lakh crore into the market, with investments continuing strong in 2024, totaling Rs 1.12 lakh crore so far.
Since April 2023, the overall market capitalization of BSE-listed companies witnessed a staggering 55% surge, equivalent to Rs 143 lakh crore. In comparison, the Sensex registered a 27% gain during the same period.
India’s stock market journey reflects an amalgamation of resilience, growth, and investor confidence, setting the stage for a dynamic economic landscape ahead.
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