India market-capitalisation touches record high in rupee terms
The cumulative market capitalisation of BSE-listed firms rose to nearly Rs.292 lakh crore in the morning session of trade
While the all-time high level is eluding equity benchmark Sensex, second-run indices the BSE Midcap and the BSE Smallcap hit their fresh all-time high in trade on Thursday, June 15, pushing the overall market-cap of BSE-listed firms to record high levels in rupee terms.
The cumulative market capitalisation of BSE-listed firms rose to nearly Rs.292 lakh crore in the morning session of trade.
In December 2022, when the Sensex had hit its all-time high, the market capitalisation of BSE-listed firms had risen to Rs. 291.25 lakh crore.
While the benchmark Sensex fell over 150 points in morning trade, the midcap and smallcap indices on BSE hit their fresh all-time highs of 32,156.09 and 28,164.98, respectively.
The US Fed paused rate hikes on June 14 but said two hikes were possible by the end of 2023 which dented market sentiment. Deepak Agrawal, CIO- Fixed Income at Kotak Mahindra Asset Management Company said the FOMC surprised markets with a hawkish pause, projecting two rate hikes in 2023, contrary to the expected one rate hike.
