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BW Businessworld

Investor Wealth Rises To $1.6 Tn As Markets Surge

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As stock markets continue to witness a dream rally, the total market valuation of domestic listed companies has soared to a record $1.6 trillion on a day the benchmark BSE Sensex ended at a new closing high of 28,177.88.
Market-capitalisation, or investor wealth, of all the listed companies stood at Rs 99,03,401 crore on Monday. At the closing rate of 61.73 USD-rupee pair, the market value stands at $1.6 trillion.
The Sensex touched new intra-day peak of 28,205.71 before registering a fresh record closing high of 28,177.88, up 131.22 points or 0.47 per cent.
The Indian rupee on Monday closed at 61.73 against the greenback.
"With last Friday's record 5 year low WPI inflation, coupled with a better than expected balance of trade figure in October, markets roared to an all time Sensex close of 28,177.88. This was a pivotal day as bullish investors pushed the Sensex past the important resistance point of 28,000, which the Sensex was unable to penetrate since the start of the month," said Raghu Kumar, co-founder of brokerage firm RKSV.
October trade gap came in at $13.35 billion lower than September's $14.2 billion.
India had first entered the trillion-dollar club in June 2007, but moved out in September 2008, amid the global slowdown. It again got back into the elite league in May 2009 and had largely remained there since then, except for some brief periods including once in 2012.
In August 2013, it had, however, slipped out of the elite list.
The total market breadth on Monday remained positive as 1,622 stocks finished with gains, 1,441 stocks closed in red while 83 were steady.

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news 9 markets investment sensex nifty nse bse wealth