Indian Stock Market Hits 11-Month High: BSE Companies’ Value Tops Rs 465 Lakh Crore
Mumbai’s stock market is buzzing with excitement as the total value of all companies listed on the Bombay Stock Exchange (BSE) has soared past Rs 465 lakh crore. This marks the highest level in 11 months, thanks to a broad rally driven by fresh hopes around India-US trade talks restarting and the US Federal Reserve’s recent interest rate cut.
The BSE’s market capitalization is now just 2.7% away from its all-time high of late September 2024. Since the start of this month, investors have added nearly Rs 20 lakh crore to the pot, showing strong confidence in the Indian stock market.
Adding to the positive vibe, signs of cooling domestic inflation have raised expectations that the Reserve Bank of India (RBI) might ease rates in October. This has lifted investor moods across the board.
Benchmark indices like Sensex and Nifty have climbed about 3.5% this month, closing in on their record highs from September 26, 2024. State-owned companies led the charge, pushing the BSE PSU Index up by 7.5%. The broader BSE 500 gained 5%, while sectors like auto (BSE Auto up 9%), banking (BSE Bankex up 6.8%), metals (BSE Metal up 8.1%), and oil & gas (up 4.5%) all shone brightly.
Mid-cap and small-cap stocks didn’t lag behind either. The BSE MidCap Index rose 4.7%, and SmallCap jumped 6%, proving that smaller players are fueling the Indian stock market rally too.
Experts believe the US Fed’s decisions won’t shake things up much for the Indian stock market. Instead, the ongoing surge comes from optimism about a revival in corporate earnings. Market watchers predict corporate earnings could grow over 15% in FY27, boosted by GST reforms and turning foreign portfolio investor (FPI) sentiments around.
That said, some analysts point out that stock valuations are still on the higher side, but momentum in earnings looks promising, especially from banks, non-banking financial companies (NBFCs), and consumer sectors.
In the latest session, the Nifty 50 stayed strong above 25,300, showing solid psychological support and investor ease at these levels. Analysts see upside potential ahead, with resistance likely around 25,400-25,500. Key support holds at 25,000-24,900, keeping the momentum alive for Sensex and Nifty.
This rally highlights why the Indian stock market remains a hot topic for investors watching global cues and domestic growth.
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