Market value of BSE-listed firms crossed Rs. 100-trillion landmark with the exchange calling it a reflection of India’s potential as a new age powerhouse.
“India and the BSE reached a significant milestone today. It is a reflection of the potential of India as a new age powerhouse,” BSE MD and CEO Ashishkumar Chauhan told PTI.
“It is also significant that it has happened after highly successful tour of our Prime Minister Narendra Modi to Nepal for SAARC, Australia for G20, Myanmar and Fiji,” Chauhan said.
Measured in terms of total market capitalization of all listed companies on BSE, the overall investor wealth in the Indian stock market rose to Rs. 100.01 lakh crore in early morning trade at 1005 hours as the benchmark Sensex soared by over 300 points in its sustained record rally.
“This achievement is a reflection of India’s growth potential as seen from the foreign investor’s perspective as well as the competitiveness of Indian entrepreneurs to manage world class organizations,” Chauhan added.
The 30 Sensex companies alone, which are among the biggest companies in the country, now account for nearly 50 per cent or about Rs. 47 lakh crore of total investor wealth.
“It has taken India and BSE 140 years to reach this milestone of Rs. 100 lakh crore market capitalization. However, given India’s potential, India should be able to achieve multiple times Rs. 100 lakh crore market capitalization in times to come,” Chauhan said.
The total market cap of all BSE listed companies had crossed Rs. 10 lakh crore mark nearly 11 years ago in 2003, while it has doubled from about Rs. 50 lakh crore five years ago in 2009.