New Delhi: In a big milestone for the Bombay Stock Exchange (BSE), the stock market capitalization of all listed companies hit record $3 trillion mark on Monday. It’s for the first time that the exchange has achieved this feat and it was fuelled mostly by strong rally in small and mid-cap stocks.
“Market capitalization of equities of listed companies on @bseindia reached $3 trillion intra day for the first time ever. A great milestone on a long journey. Congratulations to all 6.9 crore+ registered investors, 1400+ brokers, 69,000+ MF distributors and 4700+ companies,” Ashishkumar Chauhan, CEO of BSE said in a tweet.
BSE CEO Ashishkumar Chauhan also shared a timeline of the exchange, showing its major landmark years and when the exchange saw its m-cap touching new highs.
@bseindia timeline for market cap
US$ 125 billion: March 2002
US$ 500 billion: Aug 2005
US$ 1 trillion: 28 May 2007
US$ 1.5 trillion: 6 June 2014 (2566 Days)
US$ 2 trillion: 10 July 2017 (1130 Days)
US$ 2.5 trillion: 16 Dec 2020 (1255 Days)
US$ 3 trillion: 24 May 2021 (159 Days)— Ashish Chauhan (@ashishchauhan) May 24, 2021
Investor wealth has been touching fresh records this year. The record comes at a time despite foreign institutional investors (FIIs) selling their stake in Indian equities. Since March 23, FIIs have sold Indian shares worth nearly $2.48 billion.
The only other countries that have a stock market capitalization of more than $3 trillion are the US, China, Hong Kong, Japan, UK, France, and Canada.
Small & mid-caps fuel market growth
BSE Sensex remains 4% below its February peak, owing to sluggishness in large-cap stocks. The current rise in The rise in BSE market cap could be attributed to 20.78% gain in the midcap index since the beginning this year while small cap stocks outperforming the market since the beginning of this year.
Sensex has gained 2,900 points since the beginning of this year. Nifty has risen 1,215 points higher during the same period.
