Rs 100 Trn M-Cap Reflection Of India As New Age Powerhouse:BSE

Friday, 28 November 2014, 11:07 Hrs
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MUMBAI: As market value of BSE-listed firms crossed 100-trillion landmark, the exchange said it is a reflection of India's potential as a new age powerhouse and many more such milestones can be achieved in times to come.

"It is also significant that it has happened after highly successful tour of our Prime Minister Narendra Modi to Nepal for SAARC, Australia for G20, Myanmar and Fiji," BSE MD and CEO Ashishkumar Chauhan told PTI.

"India and the BSE reached a significant milestone today. It is a reflection of the potential of India as a new age powerhouse," he said on this landmark achievement.

Measured in terms of total market capitalisation of all listed companies on BSE, the overall investor wealth in the Indian stock market rose to 100.01 lakh crore in early morning trade at 1005 hours as the benchmark Sensex soared by over 300 points in its sustained record rally.

"This achievement is a reflection of India's growth potential as seen from the foreign investor's perspective as well as the competitiveness of Indian entrepreneurs to manage world class organisations," Chauhan added.

The 30 Sensex companies alone, which are among the biggest companies in the country, now account for nearly 50 per cent or about Rs 47 lakh crore of total investor wealth.

"It has taken India and BSE 140 years to reach this milestone of 100 lakh crore market capitalisation. However, given India's potential, India should be able to achieve multiple times Rs 100 lakh crore market capitalisation in times to come," Chauhan said.

The total market cap of all BSE listed companies had crossed Rs 10 lakh crore mark nearly 11 years ago in 2003, while it has doubled from about 50 lakh crore five years ago in 2009.

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Source: PTI
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