Dalal Street's market capitalisation tops Rs 500 lakh crore as Nifty, Sensex defy global rout
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- ✓Dalal Street’s market capitalisation crossed Rs 500 lakh crore as Nifty and Sensex defied a global rout.
- ✓Strong foreign buying in large-caps drove this rally, with investors adding Rs 35,781 crore in five sessions.
- ✓Ponmudi R said, "The market’s ability to sustain its gains will be an important near-term indicator."
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- MARKET
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- Moneycontrol
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- 3 Minute(s)
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- India Economy
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Despite the global sell-off, Dalal Street has rallied sharply over the past week, leading its market capitalisation to cross the Rs 500 lakh crore mark. The gains are a result of strong foreign institutional investor buying in large-caps, which have seen a strong rally.
In the previous session, the m-cap of all listed firms surged to Rs 502 lakh crore as new paper, renewed FII interest, and a strong earnings show bolstered sentiment. In the past five sessions, FIIs have bought equities for Rs 35,781 crore.
In the previous session, foreign investors net bought equities worth Rs 14,796 crore, marking the largest daily buying over the past six years.
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