Stock Market Capitalisation Hits USD 5.5 Trillion As Bulls Dominate

Mumbai: Amid volatile market conditions in the stock market due to high valuations benchmark indices Sensex and Nifty-50 closed at fresh record highs. BSE's market cap for the first time crossed USD 5.50 trillion mark intraday and stood at USD 5.50 trillion or over Rs 460.91 lakh crore.at market close.

The Nifty-50 index closed at 24,857.30 up 21.20 points or 0.09 per cent after touching a high of 24,971.75 intraday. The Sensex closed at 81,455.40 up 99.56 points or 0.12 per cent.

On the upside, 25,000 will act as a key hurdle for Nifty in the short term, said analysts as the benchmark index attempted to cross the hurdle for the second consecutive session.

"Nifty consolidated at higher levels, while stock-specific actions continued in the market. 25k zone has been elusive for the last 2 days and once Nifty crosses this level, it would be a euphoric moment for equity markets," said Siddhartha Khemka, head -

Retail Research, Motilal Oswal Financial Service.

Broader market outperformed with BSE Mid-cap index up 0.27 per cent and BSE Small-cap index 0.88 per cent.

The market witnessed heavy profit booking by foreign portfolio investors of equities worth Rs 5,598.84 crore while domestic institutions were net buyers by Rs 5,565.10 crore.

"Oil & Gas sector was in momentum after crude oil prices slipped to a two-month low as global demand

concerns outweighed rising geopolitical tension in the Middle East," said Khemka.

Sector-wise it was a mixed bag with buying seen in Consumer Durables, Oil & Gas, Auto, and Realty stocks.