Investors richer by Rs2.2 lakh cr

Investors became richer by Rs2.20 lakh crore on Monday and the market capitalisation (mcap) of BSE-listed firms rose by Rs2,19,581.56 crore to an all-time high of 3,91,69,087.01 crore (Rs391,69 lakh cr or $4.7 trillion) as buoyant sentiment sustained the stock market rally for the fifth straight session.

“BSE market cap touching a record high of around $4.7 trillion reflects the strength of the ongoing bull run and the momentum in the market. The fact that the crucial Buffet Ratio (market cap to GDP) is signalling very high valuation at above 120% is a matter of concern.

But this is unlikely to halt the bull run in the near-term since flows into the market from domestic individual investors and DIIs continue to be strong,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.