India's market capitalisation hits new record high of Rs. 280.5 trillion
- IBEF
- August 22, 2022
The benchmark Sensex is just 2.4% away from setting a new lifetime high, but the market capitalisation (m-cap) of all companies listed on the BSE has already set a new high. The total m-cap of 4,776 firms on the BSE reached Rs. 280.5 trillion (US$ 3.51 trillion), beating the previous high of Rs. 280 trillion (US$ 3.50 trillion) on January 17. The highest-ever m-cap valuation can be ascribed in part to this year's major new listings, which include Life Insurance Corporation of India at a market cap of Rs. 4.4 trillion (US$ 55.09 billion), Adani Wilmar at Rs. 95,091 crore (US$ 11.90 billion), and Delhivery at a market cap of Rs. 40,627 crore (US$ 5.08 billion).
Companies in the automobile and staples sectors have performed well year to date, helping to boost the m-cap. The benchmark indices have risen more than 17% since the year's bottom on June 17. Over the last two months, India has been the best-performing large market in terms of local currency.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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