Investor wealth soars Rs 8.5 lakh crore this fiscal

New Delhi: Investors' wealth surged Rs 8.5 lakh crore so far this fiscal helped by positive stock market sentiment with the BSE benchmark index rising by nearly 7 per cent.

The 30-share Sensex zoomed by 1,975.56 points or 6.66 percent to 31,596.06 so far this fiscal. During this period, the index touched its lifetime high of 32,686.48 on August 2.

Led by the smart show in the broader market, the total market capitalisation (m-cap) of BSE-listed companies rose by Rs 8,48,738 crore to Rs 1,30,03,263 crore.

A large number of successful IPOs have also ensured that the total investor wealth, measured in terms of cumulative valuation of all listed shares, gain.

A total of 12 companies have hit the market with their initial share sale offers so far this fiscal, with most of them receiving strong response from investors.

Foreign investors, one of the main drivers for the Indian stock market, have invested Rs 8,696.70 crore in equity so far this fiscal.

The total market capitalisation of BSE-listed companies had gained Rs 26.79 lakh crore to Rs 1,21,54,525 crore during 2016-17 fiscal.

Measured in terms of total market capitalisation of all listed stocks on the BSE, the overall investor wealth grew to Rs 121 lakh crore - up from Rs 94.75 lakh crore at the end of fiscal 2015-16.

RIL with a market valuation of Rs 5,09,703 crore is the country's most valued firm followed by TCS (Rs 4,77,672.18 crore), HDFC Bank (Rs 4,54,654.36 crore), ITC (Rs 3,42,754.93 crore) and HDFC (Rs 2,79,761.80 crore) in the top five list.

RIL had in early July toppled TCS to become the country's most valued firm in terms of market capitalisation.