After climbing to 50k, stock markets have scaled a new peak -- the market capitalisation of all BSE listed equities touched Rs 200 lakh crore for the first time in opening trade. At Rs 72.95 per dollar, it is currently valued at $ 2.7 trillion.
With this, investors have added 7.7 lakh crore to their kitty in the last four trading sessions. "The Budget has unleashed the true growth potential for India. This decade will be India's decade and stocks markets reflect the sentiments. Also, we have seen massive retail participation with over 1.5 crore new accounts opened last year. Such participation will increase the market depth and valuation even further," says Sandeep Bhardwaj, CEO, Retail Broking, IIFL Securities.
The jaunt to 50,000 from pandemic lows of March'20 has been aided by a sharp recovery in corporate earnings, benign global liquidity and a much-needed investment-led budget. In the afternoon trades, around 265 stocks have touched their 52-weeks high, and the advance decline ratio of the stocks have soared to 1.65 from 1.05 in January.
"India Inc results show that real recovery is happening at a faster pace than expected. We believe there will be an all round recovery across sectors, and we will see many industry leaders at the global stage coming from India," adds Bhardwaj.