Amid an upsurge at the bourses for the second consecutive day, the Indian stock market today surpassed the Rs 60 lakh crore-mark in terms of total valuation of all listed companies.
However, the market's dollar valuation remained below the trillion-dollar level at $954 billion (Rs 60,33,296.62 crore).
The stock market benchmark BSE Sensex has gained over 600 points in two successive trading sessions. The BSE 30-stock benchmark index today climbed 206.50 points to close at 18,519.44 after a gain of 407 points yesterday.
During the two successive trading sessions, the total market capitalisation went up by over Rs 1.73 lakh crore.
The stock and currency markets got a boost after Finance Minister P. Chidambaram yesterday said there is no need for panic and that revival and encouragement of growth will remain the government's focus.
"On Thursday, post-market comments by the Finance Minister and the Reserve Bank of India (RBI) on present state of economy and introspective view on measures taken so far helped the index to close in green for second consecutive session. It inched up nearly one per cent in a volatile session supported by marginal recovery in rupee as well," said Jayant Manglik, President Retail Distribution, Religare Securities.
The Indian rupee today closed at 63.20 against the US dollar, up 135 paise over yesterday's close.
Among the BSE Sensex constituents, 23 ended the day in green with BHEL leading the pack, recording 8.1 per cent gain.
Out of the 13 sectoral indices, 12 closed the day with gains, barring realty index.