Market capitalization of companies listed on BSE at all-time high

Tracking rally in equities, market capitalization of BSE-listed firms jumped 2,80,52,760.91 crore today. Earlier on January 17, the market capitalization (mcap) of companies listed on the BSE had reached a lifetime high. 2,80,02,437.71 crores.

“Recent gains in Indian indices have been helped by a combination of factors including encouraging macro data, easing commodity prices, moderating inflation, leading central banks to soften their monetary policy stance globally earlier than expected. can etc. There is also a refund of purchases by FPIs. helped. Dheeraj Reilly, MD & CEO, HDFC Securities said, “The stability of the rally from June 2022 lows without any major corrections along the way has been beyond most investors’ expectations.

“While some stocks are still well below their recent highs, it is a common phenomenon in which sectors and stocks are taking turns to perform. Investors are now eagerly waiting for Nifty to hit all-time highs, while some skeptical investors feel that it could be a bear market rally.”

Consistent foreign fund inflows of late have further strengthened investor sentiment. Kotak Mahindra Bank was the top gainer in the Sensex pack, rising 3.45 per cent, followed by Larsen & Toubro, Bharti Airtel, IndusInd Bank, UltraTech Cement, Power Grid, State Bank of India and ITC.

Ajit Mishra, VP-Research, Religare Broking Ltd, said: “Markets traded in a narrow range on the week-end and ended almost unchanged taking respite after the recent bounce. The benchmark opened marginally lower and ended lower in early trade tracking weak global cues.

On the other hand, Dr Reddy’s Laboratories, Wipro, Infosys, Mahindra & Mahindra, Axis Bank and Nestle were among the laggards.

nifty technical outlook

“Technically, on the short term time frame, the index continues to form higher highs and higher lows which is broadly positive. But at current levels, investors need to be cautious while adding long positions. Traders are now looking to add long positions. 60000 will be the key support level, above which it may reach the level of 18000-18070/60500-60700. On the other hand, if the index manages to trade below 17850/60000, traders may opt to exit the long position Below which, it may slip to 17750-17700 / 59700-59500,” said Shrikant Chauhan, Head Equity Research (Retail), Kotak Securities Ltd.

Ajit Mishra, VP-Research, Religare Broking Ltd, said: “We are witnessing advance and rotational buying across sectors for the fifth consecutive week which is helping the index to sustain the current trend. We are eyeing Nifty at 18,100 and reiterate our view to continue with “Buy on Dips” approach. Participants should focus more on stock selection after the recent surge and focus more on sectors/stocks which are instead trading in sync with the benchmark. To focus on the backward.”

first article