The combined market value of companies listed on the Bombay Stock Exchange on Tuesday hit the $5 trillion milestone for the first time, at a time when markets are witnessing volatility amid the ongoing Lok Sabha Elections.
At close, the total valuation of the exchange's listed companies was at an all-time high of Rs 414 lakh crore ($4.97 trillion), BSE data showed. The market value of the top 10 companies was Rs 90.53 lakh crore, or $1 trillion.
"... India became the fifth-largest marketcap country after the U.S., China, Japan and Hong Kong," Deepak Jasani, head of retail research at HDFC Securities, told NDTV Profit.
The BSE-listed firms scaled the last $1 trillion in less than seven months. Their combined market value touched $4 trillion for the first time on Nov. 29, 2023. They scaled the $3 trillion and $2 trillion marks on May 24, 2021, and July 10, 2017, respectively.
The market value of all listed companies on the BSE touched $1 trillion on May 28, 2007.
So far this year, the benchmark has climbed 1,713.05 points, or 2.37%. It hit its all-time peak of 75,124.28 on April 9 of this year.
According to BSE data, Reliance Industries Ltd. was the most valued firm, at Rs 19.42 lakh crore. The Mukesh Ambani-owned company was followed by India's largest software services firm, Tata Consultancy Services Ltd., with a market value of Rs 13.82 lakh crore, and HDFC Bank Ltd. at Rs 11.08 lakh crore. ICICI Bank Ltd. and Bharti Airtel Ltd. were in the fourth and fifth positions, respectively.
The 30-share Sensex declined 52.63 points, or 0.07%, to settle at 73,953.31. However, during the day, it hit a high of 74,189.19, rallying 183.25 points, or 0.24%.
(With inputs from PTI)