India's market-cap at $3 trillion: RIL, TCS, HDFC Bank among top 10 stocks on Nifty

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© Nishant Kumar India’s market-cap at $3 trillion: RIL, TCS, HDFC Bank among top 10 stocks in Nifty

Amid the prevailing uncertainty in the market due to the coronavirus pandemic, the market capitalisation (m-cap) of BSE-listed firms hit the $3 trillion mark on May 21.

As per data available with BSE, the cumulative m-cap of BSE-listed firms stood at Rs 219.06 lakh crore on May 25.

The calendar year 2020 and 2021 so far have been very volatile for the Indian market due to the pandemic, subsequent lockdowns, easy liquidity and fluctuating macroeconomic indicators.

Motilal Oswal Financial Services, in a note on May 24, exhibited interesting sets of data to show the journey of the Indian market from $250 billion to $3 trillion mark. For instance, the brokerage pointed out that the BSE market-cap took 6,375 calendar days to reach $3 trillion from $250 billion.

At this juncture, the Indian market is the eighth largest in the world.

The market has seen a lot of change in its journey when it hit the milestones of $ 1 trillion, $2 trillion and $ 3 trillion marks. At present, Reliance Industries (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys and Hindustan Unilever are the top companies in terms of market-cap.

Also read: As India’s market-cap hits $3 trillion, is it time to book profits? This is what experts have to say

ONGC, Bharti Airtel, NTPC, Reliance Communications and Wipro that were among the top 10 stocks in terms of m-cap in 2007 have failed to hold their position.

Consumer and PSUs dominated Nifty in the year 1996 but in 2021, private banks and technology dominate Nifty.

Brokerage firm Motilal Oswal believes as the second COVID-19 wave recedes in India and the pace of vaccination picks up in the rest of the year, the journey of the Indian market may become a little smoother.

The Indian market is also witnessing a surge in retail investors. Data with BSE shows as many as 6,92,17,591 investors are registered in India – 38.37 percent higher on a year-on-year basis.

The m-cap of BSE-listed companies has been rising despite the recent selling by foreign institutional investors (FIIs). However, they have been net buyers on a 12-month basis.

Overseas investors withdrew Rs 4,915 crore from Indian equities so far in May amid concerns over the second wave of the coronavirus pandemic and its possible impact on the Indian economy.

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