Bumper earnings for investors, market capitalization record of companies listed on BSE crosses Rs 319 lakh crore

Photo: File BSE

head of state The market capitalization (market cap) of companies listed on the stock market BSE reached its all-time high of Rs 319.10 lakh crore on Thursday in a boom. BSE’s benchmark index Sensex closed at 66,265.56 with a gain of 385.04 points, or 0.58 percent. This was the fifth consecutive trading session in the stock market. In this phase of boom, the Sensex has jumped by a total of 1,434.15 points i.e. 2.21 percent. During this period, the market capitalization of the listed companies of BSE also increased by Rs 9.50 lakh crore. With this, the total market capitalization of these companies increased to Rs 3,19,10,019.04 crore. Mid and small size companies of BSE have also seen a boom. BSE Midcap index rose 0.79 percent on Thursday. The Smallcap index gained 0.40 percent. Investors have made bumper earnings due to the continued rise in the market.

Up on Day 5 due to short covering

The Nifty closed at 19,727, up 116 points (+0.6 per cent) for the fifth day in a row. The market recovered in the second half due to short covering on the weekly closing day despite weak global cues. This information was given by Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services. He added that the broader market also ended in the green with Midcap100/Smallcap100 up by 0.8 per cent/0.5 per cent. Banking and realty were the key drivers with gains of over 1 per cent each. The Nifty reversed the initial losses and closed the fifth session on 7 September with gains.

Interest is being seen in shipping and defense stocks

Buying interest is being seen in key sectors like shipping and defense stocks due to receipt of large orders and strong order book. Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services said this on Thursday. Shipbuilding stocks were in focus as the main counters led gains. Cochin Shipyard was at the upper circuit up 20 per cent, Garden Reach Shipbuilders was up 10 per cent, while Mazagon Dock Shipbuilders was up 9 per cent. Paper and sugar stocks continued to rally. Nifty has shown good momentum so far in September and is approaching its lifetime highs, where it may face some resistance.

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