Mumbai: After facing pressure due to global uncertainties, Indian stock markets rebounded strongly as the total market capitalisation of all companies listed on the Bombay Stock Exchange (BSE) has once again crossed the $5 trillion mark.
The last time BSE-listed companies’ market cap touched $5 trillion was on January 20. However, a subsequent market correction dragged the figure down to $4.39 trillion by February 28.
With the latest rally, the total market cap has recovered and hit the $5 trillion milestone once again on April 21, according to latest Bloomberg data.
Currently, the United States, Japan and Hong Kong are among the countries that have stock markets with a total market capitalisation of over $5 trillion.
The sharp correction earlier this month was triggered by US President Donald Trump’s announcement of reciprocal tariffs, which had a ripple effect across global markets, including India.
On April 7, the combined market cap of BSE-listed companies had slipped to $4.5 trillion. However, with the ongoing recovery, markets have gained back around $500 billion in value.
Meanwhile, the Indian equity markets continued its strong rally for the fifth day in a row on Monday, as investors showed heavy buying interest in banking, IT, and auto stocks.
The Sensex surged 855 points, or 1.09 per cent, to close at 79,408.50, while the Nifty jumped 273 points, or 1.15 per cent, to end at 24,125.
Banking stocks led the rally, with the Nifty Bank index soaring 1,014 points or 1.87 per cent to close at 55,304. During the session, the index even touched a new all-time high of 55,461.65.
A total of 93 stocks touched their 52-week highs on April 21. These included prominent names like AIA Engineering, Bajaj Finserv, Bajaj Finance, Bharti Airtel, HDFC Bank, ICICI Bank, IndiGo, and Kotak Mahindra Bank.
(IANS)
