Market Cap of NSE-listed companies surges to $5 trillion from $4 trillion in just 6 months

Synopsis : NSE market capitalization surpassed $5 trillion as the Nifty 50 hit a record high of 23,004.05. This rapid growth, achieved in just six months, reflects strong investor confidence in the Indian economy's future.

The market capitalization of companies listed on the National Stock Exchange (NSE) surpassed $5 trillion (Rs 416.57 lakh crore) on Thursday, coinciding with the Nifty 50 index reaching a record high of 22,993.60. On Friday, May 24, Nifty crossed the 23,000 milestone in morning deals, hitting a new peak of 23,004.05.

According to an NSE press release, it took just six months for NSE-listed companies to climb from $4 trillion to $5 trillion in market capitalization. The $4 trillion mark was achieved in December 2023.

The NSE detailed the market cap growth trajectory: it rose from $2 trillion in July 2017 to $3 trillion by May 2021, taking 46 months. The subsequent rise to $4 trillion took 30 months, reached in December 2023, and the latest leap to $5 trillion occurred in a mere six months.

Shri Sriram Krishnan, Chief Business Development Officer at NSE, commented, "The increase in market capitalization by $1 trillion in just six months underscores investor confidence in the Indian economy's future."

The leading companies by market capitalization include Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, and Bharti Airtel.

The Nifty 500 index also achieved an all-time high of 21,505.25 on Thursday, indicating that the growth trend in the equity market extends beyond top-tier companies and reflects a broad spectrum of stocks, as noted by the exchange.