Total market cap of BSE listed firms hit new high

The total market capitalisation of BSE-listed companies touched a new high of Rs 156.89 trillion on Tuesday, after strong gains in heavyweight stocks from the information technology (IT), fast moving consumer goods (FMCG) and private lenders.

Investor wealth of BSE-listed firms, measured by market capitalisation (m-cap), had seen a previous record high of Rs 156.57 trillion scaled on January 23, 2018, the BSE data shows.

In absolute terms, top five companies – Tata Consultancy Services (TCS), Reliance Industries (RIL), Hindustan Unilever (HUL), Bajaj Finance and HDFC Bank - have collectively contributed Rs 5.58 trillion m-cap rise since January 23 levels. TCS (Rs 1.77 trillion) and RIL (Rs 1.68 trillion) accounted 62% of total m-cap gain by these five companies.

The nine recently listed companies which include Bandhan Bank, Hindustan Aeronautics, HDFC Assets Management Company, ICICI Securities and Varroc Engineering, added Rs 1.97 trillion in total m-cap, also led the BSE m-cap to hit new high.

The benchmark S&P BSE Sensex hit a new high 38,403 in intra-day trade, finally settled at 38,286 points today. The index gained 6% has outperformed the broader indices, the S&P BSE Midcap (down 8%) and the S&P BSE Smallcap index (down 14%) during the period.

Only 135 stocks from the S&P BSE500 index were trading above their January 23 levels, despite of the market cap hitting new high today. Out of 365 stocks, 15 scrips have seen their market values more than halved, 126 stocks declined in the range of 25% to 50%.

Oil and Natural Gas Corporation (ONGC), Bharti Airtel, Tata Motors, Vedanta, Indian Oil Corporation, Bharat Petroleum Corporation and Punjab National Bank have seen their market value erosion between Rs 200-billion and Rs 500-billion during the period.

Analysts attribute the resilience of Indian markets amid the recent emerging market turmoil to overall macro stability, low policy uncertainty, improving growth and domestic flows. Domestic equity flows are in the midst of a structural uptrend, they say, resulting in a persistent bid for stocks.

“India's policy environment has defied expectations and remained relatively benign despite the coming elections in 2019. Macro stability is strongly backed by a Central Bank committed to keeping real rates positive,” wrote Ridham Desai, head of India research and India equity strategist, at Morgan Stanley along with Sheela Rathi in their recent report titled India Equity Strategy Alpha Almanac: Why is India behaving differently? CLICK HERE TO READ FULL REPORT

  Price on BSE in Rs M-cap*
Company 23/01/2018 21/08/2018 % chg Rs billion
GAINERS        
TCS 1551.55 2013.65 29.8 1769
Reliance Inds. 981.70 1246.50 27.0 1682
HUL 1366.85 1752.40 28.2 835
Bajaj Finance 1707.00 2871.40 68.2 675
HDFC Bank 1951.30 2094.85 7.4 620
Infosys 1175.20 1384.30 17.8 457
ITC 276.30 312.75 13.2 454
Kotak Mah. Bank 1074.30 1263.60 17.6 362
Indiabulls Vent. 282.97 775.45 174.0 344
Bajaj Finserv 5005.25 7090.05 41.7 332
         
LOSERS        
Bharti Airtel 490.90 367.75 -25.1 -492
ONGC 207.15 169.75 -18.1 -480
Tata Motors 418.05 269.05 -35.6 -478
Vedanta 342.90 219.20 -36.1 -460
IOCL 194.60 157.80 -18.9 -357
BPCL 481.30 369.00 -23.3 -244
PNB 185.90 83.70 -55.0 -220
HPCL 395.70 266.85 -32.6 -196
PC Jeweller 576.90 96.05 -83.4 -190
Bajaj Auto 3294.30 2727.55 -17.2 -164
         
M-cap - Gain/lost over January 23, 2018
Source: CapitalinePlus


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