Mumbai
The combined market value of companies listed on the Bombay Stock Exchange (BSE) has touched ₹465 lakh crore, its highest in 11 months. The milestone comes amid a broad market rally and renewed optimism over India–US trade talks and the US Federal Reserve’s recent rate cut. Since the beginning of September, nearly ₹20 lakh crore has been added to overall market capitalisation.
This figure is just 2.7 percent short of the all-time record set on September 27, 2024. Expectations of a potential rate easing by the Reserve Bank of India in October, supported by easing inflation, further boosted investor confidence.
Benchmark indices Sensex and Nifty gained 3.5 percent this month, nearing last year’s peak levels. State-owned firms have been central to the rally, lifting the BSE PSU Index by 7.5 percent. Broader indices also advanced, with BSE 500 up 5 percent, BSE Auto climbing 9 percent, Bankex 6.8 percent, Metal 8.1 percent, and Oil & Gas 4.5 percent. Mid-cap and small-cap stocks added 4.7 percent and 6 percent, respectively.
Analysts believe the rally is driven more by earnings expectations than global cues. Corporate profits are expected to grow above 15 percent in FY27, aided by GST reforms, which could also improve foreign investor sentiment. They noted that while valuations remain high, growth momentum is likely to continue, especially in banking, NBFC, and consumption sectors.
The Nifty 50 maintained strong support above 25,300 in its last session, signalling investor comfort. Experts see potential upside towards 25,400–25,500, with support zones at 25,000–24,900. Market watchers suggest the outlook remains positive as India edges closer to new record highs.