As market value of Bombay Stock Exchange-listed firms crossed the Rs 100-trillion landmark, the bourse said it is a reflection of the country's potential as a new age powerhouse and many more such milestones can be achieved in times to come.
"It is also significant that it has happened after highly successful tour of our Prime Minister Narendra Modi to Nepal for SAARC, Australia for G20, Myanmar and Fiji," BSE MD and CEO Ashishkumar Chauhan told PTI.
"India and the BSE reached a significant milestone today. It is a reflection of the potential of India as a new age powerhouse," Chauhan said on this landmark achievement.
Measured in terms of total market capitalisation of all listed companies on BSE, the overall investor wealth in the domestic stock market rose to Rs 100.01 lakh crore at 10:05 am on Friday as the benchmark BSE index Sensex surged by over 300 points in its sustained record rally.
"This achievement is a reflection of India's growth potential as seen from the foreign investor's perspective as well as the competitiveness of Indian entrepreneurs to manage world class organisations," teh BSE MD added.
The 30 Sensex firms alone, which are among the biggest companies in the country, now account for nearly 50 per cent or about Rs 47 lakh crore of total investor wealth.
"It has taken India and BSE 140 years to reach this milestone of Rs 100 lakh crore market capitalisation. However, given India's potential, India should be able to achieve multiple times Rs 100 lakh crore market capitalisation in times to come," Chauhan said.
The total market capitalisation of all BSE-listed companies had crossed Rs 10 lakh crore-mark nearly 11 years ago in 2003, while it has doubled from about Rs 50 lakh crore five years ago in 2009.
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