Market valuation of BSE listed companies nears Rs 100t-mark

NEW DELHI, Nov 6 (PTI): As the benchmark BSE Sensex is witnessing a dream-rally, the total market valuation of BSE-listed companies has inched closer to the Rs 100 trillion mark.
At present, the total market capitalisation (m-cap) of BSE-listed companies stands at Rs 97131.96 billion which is just Rs 2.8 million short of the Rs 100 trillion milestone.
In terms of the US dollar, the total market valuation of BSE-listed companies has surged to $1.58 trillion at the current rupee rate of 61.41 against the Greenback.
India had first entered the trillion-dollar club in June 2007, but moved out in September 2008 after a global meltdown.
It again got back into the elite league in May 2009 and largely remained there except for some brief time, including once in 2012. In August 2013, it had again slipped out of the list.
The Sensex has gained 6,745.2 points, or 31.86 per cent, so far this year. The index had hit its all-time high of 28,010.39 yesterday.
Experts said expectations of more reforms by the Narendra Modi-led government and a rate cut by the RBI has helped markets scale new heights.
The Sensex blue-chips whose market valuation is more than Rs 1 trillion include TCS, ONGC, RIL, ITC, Infosys, HDFC Bank, Coal India, SBI, ICICI Bank, Sun Pharma, HDFC, HUL, L&T, Bharti Airtel, Tata Motors, Wipro, NTPC, HCL Tech and Axis Bank.
Outsourcing giant TCS is the most valued Indian company with a market cap of Rs 5094.36 billion.
Marketmen said Indian markets are also making merry, helped by smart foreign fund inflows.
Since the beginning of this year, overseas investors have infused a net amount of Rs 822.66 billion ($13.7 billion) into the equities, while they invested a net of Rs 1.36 trillion into the debt market ($22.5 billion) taking the total to Rs 2.18 trillion ($36 billion).