The market capitalisation of India is inching towards $1 trillion after the total value of all listed stocks touched an all-time high of Rs 39,78,172 crore or about $970.28 billion (at Rs 41 a dollar) on Wednesday. The economy touched the $1 trillion mark just recently.
The journey towards the $1-trillion mark is nothing less than spectacular, considering that the market cap was just about $150 billion in 2004. To put in context, the total bank deposits in 2004 was $500 billion and has crawled to about $650-700 billion in the same period.
A total of 33 new scrips, including Idea Cellular (Rs 30,372 crore), Power Finance Corp (Rs 15,602 crore), Indian Bank (Rs 5,406.51 crore), Firstsource Solutions (Rs 3,913.32 crore), MindTree Consulting (Rs 2,973.38 crore), Fortis Healthcare (Rs 2217.97 crore), Global Broadcast News (Rs 1,855.46 crore), Redington India (Rs 1,378.69 crore) and ICRA (Rs 926.05 crore) added as much as Rs 70,710 crore to the market cap. One of the prominent gainers in the m-cap journey is Reliance Capital, whose m-cap crossed the $ 5 billion-mark on Wednesday.
Read more in The Business Standard article.
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