BSE Hits New High in Market Capitalisation

Mumbai: Nifty-50 and Sensex made new closing highs and BSE market capitalisation hit new all time high of over Rs 455 lakh crore on across the board rally in the market .

The Sensex closed at new all time high of 80,664.86 gaining 145.52 points or 0.18 per cent and Nifty-50 at 24,586 gaining 84.55 points or 0.35 per cent after hitting 24,635.05 intra-day.

Broader market outperformed with BSE Mid-cap index gained 0.95 per cent while BSE Small index gaining 0.21 per cent.

"Domestic benchmark indices began higher on Monday, boosted by strong global cues. On the back of this, Nifty registered a new record high of 24,635.05 and concluded the day positively at 24,587 levels," said Hrishikesh Yedve, technical analyst, Asit C. Mehta Investment.

Barring IT, all other sectoral indices ended the day in green with PSU Bank being the top gainer followed by Media.

BSE IT index closed in the red as frontline IT stocks saw some profit taking after a sharp rally on Friday, the losers included LTIMindtree(-1.65 per cent) TCS(-0.40 per cent), Infosys(-0.28 per cent), and Tech Mahindra(-0.43 per cent)

"PSU Banking sector was up 3% after media reports suggested that the government may introduce amendments to the Banking Regulation Act 1949

and other laws to push banking sector reforms during the upcoming Budget session, said Siddhartha Khemka, Head - Retail Research,

PSU banking giant SBI gained 2.55 per cent topping Sensex gainers list, other PSU gainers included Bank of Baroda(3.13 per cent), Canara Bank(4.04 per cent), PNB(2.68 per cent).

Motilal Oswal Financial Services, said PSU Banking sector was up 3% after media reports suggested that the government may introduce amendments to the Banking Regulation Act 1949 and other laws to push banking sector reforms during the upcoming Budget session," said Siddhartha Khemka, head - Retail Research,Motilal Oswal Financial Services. Foreign portfolio investors were net buyers of equities worth Rs 2,684.78 crore while domestic institutions were net sellers by Rs 331 crore.

BSE's market capitalisation hit a new high of over Rs 455.06 lakh crore or USD 5.45 trillion making investors richer by around Rs 2.7 lakh crore.