Investor wealth increased by Rs 110.57 lakh crore this year due to record rise in stock market.
New Delhi: Riding on the bullish chariot, a huge increase of Rs 110.57 lakh crore has been recorded in the wealth of investors in the domestic stock market with the standard indices continuously reaching new record levels this year. So far this year, an increase of Rs 1,10,57,617.4 crore has been recorded in the total market capitalization (market cap) of BSE listed companies. The total capitalization of these companies has increased to Rs 4,74,86,463.65 crore ($5.67 lakh crore). The market valuation of BSE listed companies had reached an all-time high of Rs 477.93 lakh crore on September 27. On the same day, Sensex touched its all-time high of 85,978.25 points. BSE’s benchmark index Sensex has jumped 12,026.03 points or 16.64 percent so far in the calendar year 2024. The Sensex was at the level of 72,271.94 points at the beginning of the year. Investors have benefited from this boom in the form of good returns. Analysts have attributed the sharp rise in the markets to the strong fundamentals of the Indian economy along with better liquidity conditions at the domestic level.
Santosh Meena, Head of Research, Swastika Investmart Limited, said, ‘This year we have seen strong liquidity at the domestic level. This is driven by record investments in the mutual fund industry. So far this year, BSE Midcap index has increased by 12,645.24 points or 34.32 percent and Smallcap index has increased by 14,777.09 points or 34.62 percent. “The sharp rise in recent weeks is a result of the Federal Reserve cutting interest rates,” said Prashant Tapse, senior vice president (research), Mehta Equities Ltd. It is expected that RBI will also take a similar step in its bi-monthly review meeting. BSE’s 30-share index Sensex closed above the 83,000-mark for the first time on September 17. Just 3 days later, it closed above the historic 84,000 mark for the first time. It also crossed the 85,000-mark on September 25. The Sensex had jumped by 11,399.52 points or 18.73 percent in the year 2023. During this period, investors’ wealth had increased by Rs 81.90 lakh crore. The market valuation of listed companies reached $4 trillion for the first time on November 29 last year.
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