Investors earned nearly Rs 12 lakh crore as market capitalisation of all listed companies on BSE Sensex surged to Rs 423.21 lakh crore on Monday (June 3).
At roughly $5.09 trillion, the BSE market capitalisation surged 4,23,71,233 crore on Monday from Rs 4,12,12,881 crore on Friday.
All the 30-Sensex companies were trading in the green.
BSE Sensex and Nifty50, the Indian benchmark indices touched life-time high, buoyed by all the exit poll surveys that predicted the BJP’s win in the Lok Sabha election 2024. The results will be announced on June 4.
The average of all major exit polls suggests that the BJP-led NDA will secure 374 seats.
Investors are optimistic that the administration led by Prime Minister Narendra Modi will continue to invest in infrastructure and manufacturing to sustain economic growth.
The BSE Sensex climbed 2,777.58 points to hit an all-time high of 76,738.89, while Nifty50 too hit its record high of 23,338.70.
At 11:54 IST, BSE Sensex was trading at 76,237.13, up 3.08 per cent or 2,275.82 points, while Nifty50 was 681.95 points or 3.03 per cent up at 23,212.65.
Optimistic investors
Investors expect the Modi-led government to continue its focus on turning the nation into a manufacturing hub.
There has been hectic buying by investors across segments. The midcap and smallcap indices also surged to fresh record highs, surging nearly 4 per cent each.
The BSE Midcap index surged 4 per cent to hit its fresh all-time high of 44,560.97, while the BSE Smallcap index jumped 3.6 per cent to its fresh record high of 48,973.96.
Apart from exit poll predictions, the investor sentiments are also high following the India’s gross domestic product (GDP) for the January-March quarter of fiscal 2023-24 (Q4FY24) which came in at 7.8 per cent, while for the full year FY24, the Indian economy grew by 8.2 per cent, surpassing estimates.
