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The index on February 4 settled at fresh record high of 50,614.29 against 46,285.77 on January 29.
Dalal Street saw a big plunge
The market capitalisation of BSE-listed firms surpassed the Rs 200 lakh crore-mark for the first time on Thursday amid the ongoing rally on Dalal Street.
The benchmark BSE Sensex has advanced 4,328 points during the past four trading sessions as growing optimism about prospects of Indian economy post the announcement of bold Budget continued to attract investors.
The index on February 4 settled at a fresh record high of 50,614.29 against 46,285.77 on January 29. On the other hand, the NSE Nifty index jumped 1,261 points to 14,895.65 during the same period.
Ashishkumar Chauhan, MD & CEO at BSE said, “It is a matter of immense pride that, since 1875, BSE has acted as a catalyst to help create immense wealth to the tune of Rs 200 lakh crore amounting to $2.75 trillion. It is heartening to note BSE continues to remain the primary wealth creator of the nation. It is also good to note that no other developing country at the stage of India’s development has a thriving capital market as compared to India. BSE has also become the World’s 9th largest exchange in terms of listed companies market capitalization, as on date.”
Commenting on the ongoing momentum on D-Street, Vinod Nair, Head of Research, Geojit Financial Services said, “Driven by the hope of privatisation and NPA restructuring, PSU banks were at the forefront. FMCG, media and metal indices were also in focus with a broad-based rally. We cannot expect more from the ongoing Monetary Policy Committee meeting, considering the encouraging economic outlook than to maintain a status quo and accommodative stance. While they will work on measures to normalise the gap between the repo rate and market yield.”
Meanwhile, global brokerage firm Morgan Stanley has raised its year-ended target for Sensex to 61,000 in a bull case. In a base case, it sees the index at 55,000 by December 31. The bear case sees Sensex falling to 41,000. Earlier, the research firm had base case and bear case targets of 50,000 and 37,000 points, respectively, on Sensex.