Tuesday’s session saw a fag-end rally that increased the Sensex by 204 points.
Additionally, it caused the market capitalization of the BSE to reach a new all-time high of Rs. 336 lakh crore, or $4.02 trillion, for the Indian market. A significant boost in the stocks of ten Adani group companies contributed significantly to the $4 trillion milestone during the day, adding over Rs. 1.2 lakh crore, or roughly $12 billion, to their market capitalization in a single session.
India is currently the world’s fifth most valuable market, with a $4 trillion market capitalization, according to data from multiple exchanges. With an M-cap of about $48 trillion, the US leads the league table; China is next with almost $11 trillion. Japan is ranked third with a market value of almost $6 trillion, followed by Hong Kong in fourth place with $4.7 trillion.
All of the Adani group’s stocks saw a 20% increase in value on Tuesday following the Supreme Court’s ruling late last week, which declared that Sebi’s investigations into the Hindenburg issue were flawless.
With the combined market value of these companies now at Rs. 11.3 lakh crore, the day’s rally also added roughly Rs. 1,1 lakh crore to investors in the Adani group’s shareholders. In terms of gains, it was the best day since late January of this year for the group’s stocks.
Tuesday saw a 20% increase in Adani Total Gas and an 8.7% increase in the group’s flagship Adani Enterprises. The stocks had each reached their maximum circuit limits. Adani Transmission, up 19%, Adani Power and Adani Green Energy, both up 12.3%, and NDTV, up 11.7%, were among the other top gainers.
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