Bulls Make a Comeback as BSE Market Cap Reaches $5 Trillion Again
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Synopsis
On April 21, the Indian stock market saw a significant recovery as the total market capitalisation of BSE-listed firms crossed the $5 trillion mark once again after a challenging period. The resurgence was highlighted by substantial gains in banking, IT, and automotive stocks, demonstrating investor confidence.
Key Takeaways
- Indian stock market's total cap exceeds $5 trillion.
- Previous dip to $4.39 trillion was seen in February.
- Strong recovery led to regaining $500 billion in value.
- Banking sector led the rally with significant gains.
- 93 stocks hit their 52-week highs on April 21.
Mumbai, April 21 (NationPress) Following a period of pressure from global uncertainties, the Indian stock markets have made a robust recovery, with the total market capitalisation of all companies listed on the Bombay Stock Exchange (BSE) surpassing the $5 trillion mark once again.
The last instance of BSE-listed companies' market cap reaching $5 trillion was on January 20. However, a subsequent market correction saw this figure decline to $4.39 trillion by February 28.
According to recent data from Bloomberg, the total market cap has rebounded to hit the $5 trillion milestone again on April 21.
Currently, countries such as the United States, Japan, and Hong Kong have stock markets boasting a total market capitalisation exceeding $5 trillion.
A significant correction earlier this month was instigated by US President Donald Trump’s announcement of reciprocal tariffs, which reverberated across global markets, including India.
On April 7, the combined market cap of BSE-listed firms dipped to $4.5 trillion. However, with the ongoing recovery, markets have regained approximately $500 billion in value.
Meanwhile, the Indian equity markets have sustained their vigorous rally for the fifth consecutive day on Monday, as investors displayed considerable buying interest in banking, IT, and automotive stocks.
The Sensex climbed 855 points, or 1.09 percent, to close at 79,408.50, while the Nifty increased 273 points, or 1.15 percent, to finish at 24,125.
Banking stocks spearheaded the rally, with the Nifty Bank index soaring 1,014 points or 1.87 percent to conclude at 55,304. During the session, the index even reached a new all-time high of 55,461.65.
A total of 93 stocks achieved their 52-week highs on April 21, including notable names like AIA Engineering, Bajaj Finserv, Bajaj Finance, Bharti Airtel, HDFC Bank, ICICI Bank, IndiGo, and Kotak Mahindra Bank.
