Bombay Stock Exchange crosses trillion-dollar mark
The BSE, one of Asia's oldest bourses, on Monday created history as its market capitalisation crossed the $1,000 billion mark.business Updated: May 29, 2007 00:49 IST
Riding on a bull wave in Indian equities, the Bombay Stock Exchange (BSE), one of Asia's oldest bourses, on Monday created history as its market capitalisation crossed the $1,000 billion mark.
The total value of all the stocks listed on the BSE rose to Rs 40,521.21 billion or more than $1,000 billion on Monday's closing prices, based on an exchange rate of Rs 40.51 rupees for one dollar - a new high in the forex rate achieved on Monday.
"This represents a sharp gain of 60 per cent in the combined market cap of all the BSE-listed firms from $625 billion a year ago," the exchange said in a statement.
"However, the gain is relatively lower in the rupee terms and the market cap has gained just over 42 per cent in the corresponding previous about Rs 28,400 billion a year ago."
In the current fiscal, the market cap has gained 23 per cent in dollar terms from $812 billion at the end of the last fiscal year.