Boosted by strong buying in auto, banking & financial services and IT stocks, the sensex closed above the 39k mark after exactly six months. So far this month, boosted by the highest net foreign fund flows in over a decade, the sensex is up about 1,500 points.
The last time the sensex had closed above the 39k level was on February 27 this year, at 39,746. On the basis of investor wealth, however, BSE’s market capitalisation now is about Rs 5.6 lakh crore more than what it was in late February. Compared to the nearly Rs 152 lakh crore then, the market cap now is at just over Rs 157 lakh crore, according to official data.
Foreign portfolio investors have so far net infused nearly Rs.45,000 crore into the stock market so far in August, the highest in over a decade, according to data. The strong monthly flows have also turned the year’s net flows positive with the total currently at Rs.35,000 crore.
