BSE-listed firms' market valuation hits all-time high of Rs 316.6 lakh crore

The market capitalisation of BSE-listed companies hit a fresh all-time high of Rs 316.64 lakh crore on Tuesday as the benchmark Sensex logged its third day of rally amid strong macroeconomic data.

The BSE benchmark index climbed 152.12 points, or 0.23 per cent, to settle at 65,780.26 on Tuesday. During the day, it gained 203.56 points, or 0.31 per cent, to 65,831.70.

In three days, the benchmark index has gained 948.85 points, or 1.46 per cent.

Helped by the optimistic trend in equities, the market capitalisation of BSE-listed firms reached a new lifetime peak of Rs 3,16,64,085.18 crore.

Investors' wealth also went up by Rs 7 lakh crore in the three days of market gain.

"While markets extended gains for the third straight session, the mood was more or less range-bound with a positive bias as US markets were shut on Monday and investors preferred to take selective bets. One needs to be watchful about the sharp volatility in rupee, which could impact FII flows going ahead," Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd, said.

India's services sector activity eased in August but growth rates for new orders remain elevated, as services firms indicated the sharpest upturn in new export business which acted as a catalyst for firms to expand their workforces as well as output, a monthly survey said on Tuesday.

Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010.

Manufacturing activities in India gained momentum in August as new orders and output increased at the quickest rates in nearly three years, according to a survey released on Friday.

GST collections grew 11 per cent to over Rs 1.59 lakh crore in August on the back of improved compliance and reduced evasion, with experts forecasting higher mop-up to continue in the upcoming festive season.

In Asian markets, Tokyo settled in the green, while Seoul, Shanghai and Hong Kong ended in the negative territory.

European markets were trading on a mixed note in early deals. The US markets were closed on Monday.

Sun Pharma emerged as the biggest gainer from the Sensex pack, climbing 2.12 per cent, followed by ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank.

UltraTech Cement, Maruti, HDFC Bank, NTPC, Wipro and State Bank of India were among the laggards.

In the broader market, the BSE midcap gauge jumped 1.09 per cent, and smallcap index gained 0.61 per cent.

"Strong domestic factors are providing crucial support for Indian equities, allowing them to maintain their strength despite attempts by weak global peers to disrupt the mood," Vinod Nair, Head of Research at Geojit Financial Services, said.

"Notably, small and mid-cap stocks have been standout performers, with both indices reaching all-time highs. Conversely, the weak Chinese service PMI has cast a shadow on hopes of an economic rebound in China, impacting global market sentiments," he said.