Mumbai (PTI): The Bombay Stock Exchange's market capitalisation has touched a record one trillion dollar-mark -- a value close to the country's GDP--, riding on renewed investor confidence and appreciating rupee.
According to information available with BSE, the combined market value of all firms listed on the bourse rose to Rs 49,61,449.51 crore or over $1 trillion (calculated at an exchange rate of 46.83 rupees for one dollar).
This represents a sharp gain of over two-fold from $485 billion or Rs 24,10,256 crore on October 27 last year when the benchmark Sensex plunged to its 52-week low and the rupee was quoting at 49.74 against the greenback.
However, the gain is relatively lower in rupee terms as the local currency has strengthened against its US unit.
The country's Gross Domestic Product (GDP) was over one trillion dollar (about Rs 50 lakh crore) at the end of FY'09, according to Central Statistical Organisation.
The benchmark 30-share index Sensex has also made a steady recovery and has been on a gaining spree for the 12th consecutive week at the end of trade on Friday, last week.
Besides, the market capitalisation the the National Stock Exchange also touched a record of Rs 43,22,260.66 crore (about $921.31 billion) at the end of May. ( the hindu)