Stock market ends five-day winning streak
At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16. Meanwhile, Nifty opened higher at 22,620.40 and touched a low of 22,419.90 in intraday trades.
For the first time ever, the market capitalisation (m-cap) of BSE-listed firms reached an all-time high of Rs 401.10 trillion on Monday morning, following a record rally in equities, wherein the 30-share BSE Sensex scaled its lifetime peak.
This is for the first time ever that the market capitalisation of BSE-listed companies has gone past the coveted Rs 400 trillion mark.
In early trade, the 30-share BSE benchmark jumped 425.62 points to reach a new record high of 74,673.84.
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Riding on this rally in equities, the mcap of BSE-listed companies reached an all-time high of USD 4.81 trillion.
Mahindra & Mahindra, Maruti, Tata Steel, Bajaj Finserv, Power Grid, Reliance Industries, Axis Bank and JSW Steel were the major gainers from Sensex while Wipro, Nestle, HDFC Bank and Bajaj Finance were among the laggards.
Notably, the journey from Rs 300 trillion to Rs 400 trillion was covered in 9 months as the m-cap of BSE-listed firms had hit the Rs 300 trillion mark in July last year. With this, India became the world’s fourth largest equity market.
Further, the m-cap of BSE-listed companies surged to an all-time high of Rs 355 trillion in December last year.
Amid the Indian market hitting highs, Seoul and Tokyo were trading in the positive territory while Shanghai and Hong Kong quoted lower. Wall Street ended with gains on Friday.
As per the exchange, the Foreign Institutional Investors (FIIs) bought equities worth Rs 1,659.27 crore. Global oil benchmark Brent crude declined 1.36 per cent to USD 89.93 a barrel.
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