Mcap Of BSE-Listed Firms Reach Fresh Record High Of Rs 294.49 Lakh Crore In Morning Trade

New Delhi: The market capitalisation of BSE-listed firms hit a fresh all-time high of Rs 294.49 lakh crore in Wednesday's morning trade as the benchmark Sensex reached its lifetime peak of 63,588.31.

The 30-share BSE benchmark advanced 260.61 points or 0.41 per cent to hit its all-time high of 63,588.31 in morning trade.

On December 1 last year, the Sensex hit its intra-day record peak of 63,583.07.

The optimistic trend in equities helped the market capitalisation (mcap) of BSE-listed firms reach an all-time peak of Rs 2,94,49,069.63 crore in morning trade.

Buying in index majors HDFC twins and Reliance Industries helped the markets to trade firm.

"Sensex touched the all-time high mark, and Nifty 50 is a few points away from the all-time high level.

"The Indian market has seen a solid rally in the last couple of months, especially in the mid- and small-cap space, led by positive FII flows, robust economic growth versus other EM countries, strong earnings outlook, robust demand across the sector, the banking sector in better shape, and private capex cycle expectations," Naveen Kulkarni, Chief Investment Officer at Axis Securities PMS, said.

Kulkarni further added that the Indian economy stands at a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy.

From the Sensex pack, Power Grid, HDFC Bank, HDFC, Larsen & Toubro, Reliance Industries, Wipro, Hindustan Unilever, and UltraTech Cement were the major gainers.

Tata Motors, Tata Steel, Maruti, Axis Bank, ICICI Bank, and Asian Paints were among the laggards.

In Asian markets, Tokyo quoted in the green, while Seoul, Shanghai, and Hong Kong were trading lower.

The US markets ended lower on Tuesday.

Global oil benchmark Brent crude climbed 0.46 per cent to USD 76.24 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,942.62 crore on Tuesday, according to exchange data.

The 30-share BSE benchmark settled higher by 159.40 points or 0.25 per cent at 63,327.70 on Tuesday. The Nifty advanced 61.25 points or 0.33 per cent to end at 18,816.70.