Following the pressure faced due to global uncertainties, India's stock markets have recovered strongly. The market capitalization of all listed companies on the Bombay Stock Exchange (BSE) has again crossed the $5 trillion mark.
The market cap had last touched $5 trillion on January 20 but later fell to $4.39 trillion on February 28 following a market correction.
But after a solid rally, the overall market capitalization has now recovered and reached $5 trillion again as of April 21, based on the latest statistics from Bloomberg.
Only a handful of nations, such as the United States, Japan, and Hong Kong, currently have stock markets with a total market capitalization of more than $5 trillion.
The previous severe market correction had mainly been provoked by US President Donald Trump announcing matching tariffs, and it rippled through to world markets as a whole, including India. The combined market cap of the companies listed in BSE plummeted to $4.5 trillion on April 7, but with current recovery, the markets have risen about $500 billion in worth since then.
On April 21, the Indian equity markets maintained their strong rally for the fifth straight day, with investors showing strong interest in buying sectors like banking, IT, and automotive stocks.
The Sensex jumped by 855 points, or 1.09%, to close at 79,408.50, while the Nifty gained 273 points, or 1.15%, to close at 24,125.
Bank stocks were the front runners of the rally, and the Nifty Bank index gained 1,014 points, or 1.87%, to end at 55,304. During the day, the index also hit an all-time high of 55,461.65.
On April 21, as many as 93 stocks reached their 52-week highs, some prominent names being AIA Engineering, Bajaj Finserv, Bajaj Finance, Bharti Airtel, HDFC Bank, ICICI Bank, IndiGo, and Kotak Mahindra Bank.
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