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The total market cap of all BSE-listed companies reached $5 trillion or over Rs 414.46 trillion, showing a climb of over $633 billion since the start of the year.:

The market capitalisation of companies listed on BSE has crossed a record $5 trillion for the first time - hitting a fresh high on May 21 - data on the BSE website showed, underscoring an ongoing rally in the Indian stock markets.

The total market cap of all BSE-listed companies reached $5 trillion or over Rs 414.46 trillion, rising by over $633 billion since the start of the year. Although the flagship Sensex index still remains 1.66 percent below its all-time high, the BSE Mid and Smallcap indices hit fresh high.

The Market Cap Journey

BSE's total market capitalization had hit $4 trillion in November 2023, and has now soared past $5 trillion in just six months. BSE-listed firms reached the market cap of $1 trillion back in May 2007, doubling in over a decade to $2 trillion in July 2017, and then reaching the $3 trillion mark in May 2021.

Currently, only four stock markets world over are in the $5-trillion-plus club, namely, USA, China, Japan and Hong Kong. The US leads with a market cap of almost $55.65 trillion, followed by China ($9.4 trillion), Japan ($6.42 trillion), and Hong Kong ($5.47 trillion). According to Bloomberg, in 2024 so far, India's market capitalization has risen nearly 12 percent, while for the US it has gone up by 10 percent, and Hong Kong's has risen 16 percent. China and Japan's market cap have remained largely stagnant, with China falling 1.4 percent and Japan rising just 3 percent.

What's Fuelling The Rally

The surge in the market capitalization of Indian equities was primarily driven by a surge in broader market indices. While benchmark Sensex has risen by just 2.3 percent so far in 2024, BSE Midcap and Smallcap are up by 16.3 percent and 11.5 percent, respectively. These gains has come despite volatility in equities in recent months.

Volatile Times

The stock market volatility has increased ahead of the upcoming election results, expected on June 4, and the exit poll findings which are scheduled to be revealed on June 1. There has been some chatter around the turnout in this year's assembly election, while other market participants believe this is not a significant factor to alter the outcome.

The surge in mid and smallcap stocks can be attributed to factors like lower Foreign Portfolio Investor (FPI) holdings - leading to scope of increase - and earnings surprise in these stocks.

Markets seem to have factored in a continuity in government policies, according to some investors. India's long-term growth outlook remains promising, with a projected GDP growth of 7% for FY25. Falling headline inflation and a favourable monsoon forecast too are expected to offset pricing pressure on companies. High-frequency indicators such as PMIs, GST collection and domestic air passenger growth are positive compared to historical standards, it said.

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Share Market Closing Note

Sensex, Nifty end flat amid volatility; metals outshine:

Indian benchmark indices ended flat in the volatile session on May 21.

At close, the Sensex was down 52.63 points or 0.07 percent at 73,953.31, and the Nifty was up 27.00 points or 0.12 percent at 22,529.

Top Nifty losers were Nestle, Hero MotoCorp, ICICI Bank, TCS and Maruti Suzuki, while gainers included Hindalco Industries, Coal India, JSW Steel, Tata Steel and Adani Ports.

Among sectors, metal index up 4 percent, power index up 2 percent, PSU Bank index up 1.5 percent, while FMCG down 0.5 percent.

The BSE midcap index up 0.3percent while smallcap index down 0.2 percent.

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Topic :- Time:3.00 PM

Nifty spot if holds above 22520 level on closing basis then expect some upmove in coming sessions and if it breaks and closes below above mentioned level then some sluggish movement can be seen.

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Topic :- Time:2.40 PM

Just In:

INDEX INCLUSION IMPACT

India bond addition could spur outflows from South Africa, Colombia assets.

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Topic :- Time:2.40 PM

Just In:

April domestic air travel growth slows to 13-month low; Air India grows.

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Topic :- Time:2.40 PM

Just In:

April domestic air travel growth slows to 13-month low; Air India grows.

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 6571. If it breaks and trade below 6560 level then expect some decline in it and if it manages to trade and sustain above 6585 level then some upmove can follow in CRUDEOIL.

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Topic :- Time:2.25 PM

Just In;

Vodafone Ideas board approves fundraising of up to ₹2,075 Crore through a preferential share issue. 

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Topic :- Time:2.15 PM

Just In:

Hindustan Zinc stock soars 14% to new high; metal firms shares rally 121% YTD.

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Topic :- Time:2.00 PM

Nifty spot is trading at 22544. If it breaks and trade below 22520 level then expect some decline in it and if it manages to trade and sustain above 22560 level then some upmove can follow.

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Topic :- Time:1.30 PM

SILVER Trading View:

SILVER is trading at 94171. If it breaks and trade below 94000 level then expect some decline in it and if it manages to hold above 94000 which is key support for now then it is likely to rise.

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Topic :- Time:1.10 PM

Awfis Space Solutions IPO to open tomorrow:

According to market observers, the shares of Awfis Space Solutions are trading at a premium of ₹165 in the grey market.

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Topic :- Time:1.00 PM

Nifty has recovered sharply from its lows. Nifty spot if manages to trade and sustain above 22600 level then expect some further upmove in it and if it breaks and trade below 22540 level then some decline can follow in the market.

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Topic :- Tim:e:12.30 PM

COPPER Trading View:

COPPER is trading at 933.35. If it breaks and trade below 932 level then expect some decline in it and if it manages to trade and sustain above 935.20 level then some upmove can follow in it.

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Topic :- Time:12.00 PM

After negative to flat session nifty is now trading in green zone with minor gains. Overall Nifty is still trading flat. Nifty spot if manages to trade and sustain above 22560 level then expect some upmove in the market and if it breaks and trade below 22520 level then some decline can be witnessed. 

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty trade flat; Nifty Metal surges over 2%, top sectoral gainer

2. 3 Hong Kong-based FPIs get NSE notice for derivatives market trades

3. Bandhan Bank may look for an outsider for MD Ghoshs successor

4. Balkrishna Industries shares jump 8% to 52-week high, brokerages remain mixed

5. KKR invests $150 million in AI-powered healthcare revenue solutions provider Infinx

6. NCGTC audit report of Bandhan Banks microloan book will be out soon, say sources

7. Heatwave update: Delhi sizzles at 47.4 degrees, IMD issues red alert for next 5 days

8. IRFC Q4 net profit grows 34% to Rs 1,717 cr; board approves Rs 50,000 cr fund raising plan

9. SBI again refuses to disclose SOPs on electoral bonds

10. New telecom rules likely within 100 days of new govt

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Topic :- Share Market Opening Note

Indian Stock Market Trading View For 21 May,2024:

There is trading holiday on 20 May on account of Parliamentary elections. 

As market will open after long weekend on Tuesday so early volatile movement is expected in the market. Traders should wait for some time before entering into trades.

Nifty spot if manages to trade and sustain above 22540 level then expect some upmove in the market and if it breaks and trade below 22440 level then some decline can follow in the Nifty. 

Please note this is just opening view and should not be considered as the view for the whole day.

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