Indian stock market regains $1 trillion mark
Mumbai: Indian stock market Wednesday regained the trillion-dollar level after remaining out of this elite league for about a month.
At the end of Wednesday's trade, the total valuation of all listed companies in the country rose to USD 1.017 trillion (Rs 6,451,910.07 crore) on the back of continuous recover in the rupee as well as stock market.
The rupee today ended at 63.38 against the US dollar, up 46 paise or 0.72 percent.
The Indian currency has been on an upmove after a series of steps taken by the RBI and hopes of a peaceful resolution to the Syrian crisis.
The stock market benchmark Sensex ended the day on a flat note, up 0.36 points, at 19,997.45.
Indian stock market valuation's had slipped out of the trillion-dollar mark on August 6, but regained the level on August 8.
However, weakness in rupee and stocks once again pushed it out of the elite club on August 16 and since then it remained below the crucial mark.
India had first entered the trillion-dollar club in June 2007, but moved out in September 2008, amid the global slowdown. It again got back into the elite league in May 2009 and had largely remained there since then, except for some brief periods, including once in 2012.
The rupee weakness has been a key force behind the dollar -valuation plunge in the recent months.
Since the beginning of the current fiscal in April 2013, the rupee has depreciated by 16.8 percent.