The overall market capitalisation of BSE-listed companies crossed the mark of $4 trillion on Wednesday, two-and-a-half years after crossing the $3 trillion mark.

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Overall market capitalisation of BSE-listed companies had crossed $3 trillion for the first time on May 24, 2021.

Indian equities have had a stellar run over the last decade, with the Nifty 50 delivering positive annual returns for eight consecutive years. The index has gained 10% for 2023.

Since May 24, 2021, 44 out of the 50 index constituents have delivered positive returns to shareholders.

Shares like Coal India have tripled during this period, while those like NTPC, ITC, Titan and Tata Motors have doubled.

ITC, Reliance Industries and ICICI Bank have led the surge in terms of point contributors. Together, they contributed nearly one-third of the 5,000-point surge that the index has seen over the last 30 months.

"We are quite bullish on markets. Indian macros are quite stable, and corporate earnings growth and balance sheets are healthy. We are seeing a long-term story. India is shining out compared to other peers in terms of growth and the runway for growth. So, we are quite positive on Indian equities and fixed income markets," Nimesh Chandan, CIO of Bajaj Finserv asset management told CNBC-TV18.

Vaibhav Sanghavi of ASK Hedge Solutions said, "Financial services, rural focused sectors are something which we are probably looking at and a multi-decade opportunity in renewables is always pretty much on there. So those are the sectors we like and what we are avoiding is basically global commodities, IT, again coming back to the sector which has a larger export focus or a global focus.

(Edited by : Amrita)

First Published:Nov 29, 2023 10:39 AM IST