Combined stock market cap crosses Rs 400L cr for first time

Tribune News Service

Sandeep Dikshit

New Delhi, April 8

In a rare concurrence, the Sensex as well as the prices of gold and silver touched new heights on Monday. The increase in share prices led to the combined market capitalisation of all BSE-listed companies crossing the Rs 400 lakh crore mark for the first time.

Of the two benchmark stock market indices, the broader Nifty closed at a record 22,666.30 points and the 30-company Sensex also reached an all-time high of 74,869.30 points during intra-day trading. Gold price maintained its upward trajectory and was quoted at Rs. 71,700 per 10 grams in Delhi, up by Rs 350 since its close last week. Gold has risen by Rs. 7,700 per 10 grams since the beginning of the year alone. Silver prices also rose by Rs 800 to an all-time high of Rs 84,000 per kg, up by Rs 800 since last week.

With war clouds hovering all over the world, gold is in demand as a safe haven currency but in the case of silver, the rise is also because of its use in green energy as it is finding increasing use in solar installations.

On Monday, Nifty gained 152.60 points and Sensex 494.28 ponts. Analysts Motilal Oswal attributed the bull run in the stock market to favourable economic data releases such as GDP figures, employment reports, and manufacturing data, besides upward trajectory of global economic recovery. The rise in the precious metals pack was due to some or the other black swan event that has hit the markets since 2020. “We have continuously seen year after year, geopolitical tensions have continuously built in risk premium in the market. The pandemic, the Russia-Ukraine war and the Israel-Hamas conflict has led to support to safe haven assets,” it noted.

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