The market
capitalisation of BSE-listed companies jumped to a record high of Rs
2,40,04,664.28 crore on Tuesday, driven by a rally in stocks that also saw the
benchmark Sensex touching its lifetime peak of 53,887.98 points.
Rallying for
the second consecutive day on Tuesday, the 30-share BSE index closed at a fresh
closing peak of 53,823.36 points, a jump of 872.73 points or 1.65 per cent.
During the day, it zoomed
937.35 points to 53,887.98 points.
Investors' wealth
soared by Rs 4,54,915.38 crore since Friday's close.
In the previous session,
the Sensex rallied 363.79 points or 0.69 per cent.
From the 30-share frontline
companies pack, Titan was the biggest gainer with a jump of nearly 4 per cent
followed by HDFC, Nestle India Limited, IndusInd Bank, UltraTech Cement, Bharti
Airtel, and State Bank of India.
Other heavyweights such as
Infosys and TCS also added to the market rally.
According to Gaurav Garg,
head of research, CapitalVia Global Research Ltd, sentiments in the Indian
market remained positive with the GST collection increasing and the
manufacturing sector gaining a boost and posting the strongest rate of growth
in the month of July amid easing of COVID restrictions.
"What really provided
support to the market was the Q1 FY22 earnings report which began on a very
healthy note despite the COVID 2.0 impact," Sneha Poddar, AVP – research,
Broking & Distribution at Motilal Oswal Financial Services Ltd, said.
In the broader market, the
BSE midcap and smallcap indices closed with up to 0.23 per cent gains.
Binod Modi, head strategy
at Reliance Securities, said domestic equities extended gains and recorded
fresh highs.
"Notably, key economic
indicators like GST collection, auto sales volume and other high frequency
indicators like e-way bills indicate a strong rebound in July, which bodes well
and indicate sustained healthy corporate earnings in subsequent quarters,"
he added.