Thursday, 22 December 2011

News Hour- India back in trillion-dollar market cap club

MUMBAI: Within a day of slipping out of the coveted league of countries with trillion-dollar-size stock markets, India today regained this status as a 510-point strong Sensex rally boosted its marketcapitalisation to USD 1.02 trillion. 

Helped a surge in the stock and rupee valuations, the total size of Indian market stood at Rs 53,79,250.96 crore (USD 1,024.62 billion).
However, the market size remains barely above the trillion- dollar mark and a fall of just about 2.4 per cent in the rupee or stock valuations could again push India out of this select league.
In today's trade, the market registered a gain of about Rs 1.19 lakh crore in its total valuation, on the back of strong buying in banking stocks and a host of other blue-chips, as also strong cues from global markets.

The country's most valued firm Reliance Industries Ltd (RIL) contributed the most to the 510-point surge in the Sensex today.
In the process, RIL also regained its status as the most influential stock on the Indian stock market, measured in terms of its weightage on the barometer index Sensex.
At the end of the day, RIL commanded a Sensex weightage of 10.47 per cent, followed by Infosys' 10.42 per cent.
In the past eight trading sessions, beginning December 12, Infosys has pipped RIL on the top-slot thrice, but Mukesh Ambani-led corporate giant has also managed to regain its long-held top-most position thrice from the IT major. 
The investor sentiments also got a boost from an upgrade in the Indian government's long-term and short-term bonds by global credit ratings agency Moody's this afternoon.


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