The combined market capitalisation of companies listed on the Bombay Stock Exchange (BSE) almost touched the $5 trillion milestone for the first time, marking a historic achievement. At the close of trading on Tuesday, the total valuation of BSE-listed companies stood at an unprecedented Rs 4,14,62,306.56 crore (USD 4.97 trillion), as per BSE data.

Despite this milestone, the 30-share Sensex experienced a minor decline, dropping 52.63 points, or 0.07 per cent, to settle at 73,953.31. However, during the day, the Sensex hit a high of 74,189.19, an increase of 183.25 points, or 0.24 per cent. "The market capitalisation of companies listed on the BSE has crossed a record $5 trillion for the first time, hitting a fresh high on May 21. India has now become the fifth largest market capitalization country, following the US, China, Japan, and Hong Kong," stated Deepak Jasani, Head of Retail Research at HDFC Securities.

This achievement comes after the combined market valuation of BSE-listed companies first surpassed the $4 trillion milestone on November 29 last year. The journey to this latest milestone has been marked by several significant steps: the market cap touched $3 trillion on May 24, 2021, and $1 trillion on May 28, 2007. 

The progression from $1 trillion to $1.5 trillion took 2,566 days, or just over seven years, reaching this mark on June 6, 2014. Subsequently, it took 1,130 days to reach $2 trillion on July 10, 2017, marking a decade-long journey from $1 trillion to $2 trillion in market capitalisation. This rapid growth in market valuation highlights the significant development and increasing global presence of the Indian stock market.

(With PTI inputs)