The market capitalisation of BSE-listed companies hit a fresh record high of Rs 404.18 lakh crore on Thursday, led by a broader-based rally. Despite the usual trend of large caps leading a rally in Indian markets, investor wealth among all BSE-listed companies grew faster than that of the top 10 companies by market cap.
The benchmark index Sensex grew 2.55% while recording a five-day winning streak, compared to a 3.7% rise in the BSE Smallcap index over four consecutive days of advances.
Kirloskar Pneumatic Co. led the gainer in the BSE Smallcap index, rising by over 14.7% after reporting a strong fourth-quarter result followed by Hitachi Energy India Ltd. with a gain of 13.7%.
Sensex rose by 486.5 points, or 0.66%, on Thursday, led by Axis Bank Ltd., State Bank of India, and JSW Steel Ltd.
Axis Bank was also the biggest contributor to the index's rise by 41 points, leading the gains after reporting strong results in its fourth-quarter results.
A total of 249 stocks on the exchange hit a fresh 52-week high, while 11 were at their lowest for the period.
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