BSE Sensex Hits the $4 Trillion Mark For the First Time Ever The positive market was courtesy of US Federal Reserve's dovish commentary on hinting potential rate cuts by March 2024

By Paromita Gupta

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Bombay Stock Exchange, on Wednesday, touched a total market capitalisation of USD 4.01 trillion (or INR 333 lakh crore) for the first time ever.

Indian stocks on BSE achieved the landmark of USD 1 trillion in May 2007. It took 2,566 days or a little over seven years to go from USD 1 trillion to USD 1.5 trillion. The m-cap touched USD 2 trillion in July 2017, and USD 3 trillion in May 2021. It soared USD 600 billion since the year began.

The BSE Sensex saw the market open at 66,381.26 and trade at 66,715.20 at the time of publishing.

Among global contemporaries, the Indian stock market ranks fifth in market value, right behind the US, China, Japan and Hong Kong.

The positive market was courtesy of US Federal Reserve Governor Christopher Waller's dovish commentary on hinting potential rate cuts by March 2024. The equity advancement was heavily led by information technology (IT) stocks.

Meanwhile, NSE also benefited from the positive commentary. Nifty50 opened at 19,976.55 and is trading at 20,041.20 at the time of publishing. It's expected that it closes above 20,000 points for the day.

BSE Sensex crossed an all-time high of 67,000 in September, while Nifty50 crossed the 20,000 mark for the first time on September 11.

Among global markets, the Indian stock market is ranked fifth in terms of market value, behind the US, China, Japan and Hong Kong.
Read more at:
https://economictimes.indiatimes.com/markets/stocks/news/indian-stocks-hit-4-trillion-market-capitalisation-for-first-time-ever/articleshow/105581283.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

News and Trends

Kaynes Semicon To Invest INR 4,000 Crore On OSAT/ATMP

The investment is expected to create around 1,000-plus jobs

Leadership

International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management

Growing a Business

Expand Your Knowledge and Unlock Success With These Must-Read Business Books

Top business books to ignite your entrepreneurial journey.

Science & Technology

How Technology Has Changed Business Communication

Technology has forever changed the business communication landscape.

Health & Wellness

How Taking Up Boxing Transformed My Outlook on Entrepreneurship

Few things have taught me more about entrepreneurship than getting into boxing. Here are the three most important lessons I've learned from my time in the ring.

Growing a Business

Celebrity Chef Maneet Chauhan Shares Her Best Tip for Aspiring TV Chefs

Chef and restaurateur Maneet Chauhan discusses the reality of being a chef, sharing stories online and becoming a food TV personality.