New Delhi: The market capitalisation of BSE-listed firms soared to a new lifetime high of Rs 452.38 lakh crore on Friday, with investors' wealth rising Rs 1.17 lakh crore, amid a rally in equities where the Sensex hit its fresh all-time peak.
The 30-share BSE Sensex jumped 622 points or 0.78 per cent to settle at a new closing high of 80,519.34. During the day, it zoomed 996.17 points or 1.24 per cent to hit an all-time peak of 80,893.51.
Thanks to the optimism in equities, the market capitalisation (mcap) of BSE-listed firms hit a record peak of Rs 4,52,38,553.68 crore
Investors' wealth also climbed Rs 1.17 lakh crore.
"Markets were encouraged by TCS Q1 results, which triggered a massive rally in other IT stocks and drove Sensex close towards the 81,000 mark in early trades," said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.
Among the Sensex pack, Tata Consultancy Services climbed nearly 7 per cent after the country's largest IT services player reported 8.7 per cent growth for the June quarter net profit at Rs 12,040 crore.
Infosys, HCL Technologies, Tech Mahindra, Axis Bank, JSW Steel, Reliance Industries, Bajaj Finance and Larsen & Toubro were the other major gainers.
Maruti, Asian Paints, Kotak Mahindra Bank and ICICI Bank were among the laggards.
Among the indices, IT surged 4.32 per cent, teck zoomed 3.29 per cent, energy (0.13 per cent), bankex (0.10 per cent) and services (0.06 per cent).
In contrast, realty, power, metal, utilities, auto, industrials and consumer discretionary were among the laggards.
On a weekly basis, the BSE benchmark Sensex jumped 522.74 points or 0.65 per cent, while the Nifty climbed 178.3 points or 0.73 per cent.
"We expect this momentum to continue supported by the expectation of healthy quarterly results, hope of a rate cut, and a pre-budget rally," Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services Ltd, said.
—PTI
