BSE Broad and Sector Indices Market Cap 31Dec2022
This is an update of my earlier blog published on 04Apr2022. The following two tables show how the market capitalisations of broad and sector indices of BSE Limited have performed during the past one year, that is, between end-Dec2021 and end-Dec2022.
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Related blogs:
BSE Broad and Sector Indices Market Cap 31Mar2022
BSE Broad and Sector Indices Market Cap 31Dec2021
BSE Broad and Sector Indices Returns 31Dec2022
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Table 1: BSE Broad and Sector Indices' Market Cap as on 31Dec2022 - index representation - Index valuation measures (P/E, P/B ratios and dividend yield) >
Please click on the table for a better view >
As shown in above table, market capitalisation of all BSE companies as on 31Dec2022 is Rs 282.38 lakh crore and market cap-GDP ratio works out to 1.09 (India's nominal GDP for the latest available trailing 12-month period, Oct2021-Sep2022, is Rs 259.44 lakh crore).
The market cap of BSE 500 index represents 92.5 percent of total BSE market cap. Of the sectoral indices, BSE Financial Services (in 2022, BSE Finance was renamed as BSE Financial Services) is the biggest by market cap with a market cap of Rs 67.34 lakh crore, representing 23.8 percent of total market cap.
BSE Financial Services index is followed by BSE Consumer Discretionary, BSE Teck and BSE Commodities indices (BSE Basic Materials was renamed as BSE Commodities in 2022).
The valuation ratios of Indian stocks continues to be high. The Price-earnings or P/E ratio of Sensex is 23.7; its P/B ratio is 3.4; and its dividend yield is just 1.17 percent.
Table 2: BSE Broad and Sector Market caps - market cap change - Change during the past one year, that is, between end-Dec2021 and end-Dec2022 >
Please click on the table for a better view >
As shown above, the total BSE market cap increased by 6.2 percent to Rs 282.38 lakh crore in 2022. The 6.2 percent increase is distorted by the fact that LIC of India stock was listed on Indian bourses in May 2022. The market cap of LIC stock is Rs 433,000 crore with a per share price of Rs 684 as at the end of 31Dec2022.
It may be mentioned the number of stocks in BSE AllCap index rose from 1,086 in Dec2021 to 1,164 as at the end of Dec2022.
The market cap of BSE Mid cap index (122 stocks) rose by 15.5 percent while that of Sensex (30 stocks) went by up just 2.8 percent.
The divergence between Sensex and BSE Midcap index is mainly due to increase in number of stocks in BSE Midcap index from 97 in Dec2021 to 122 in Dec2022; and another reason could be the spectacular returns delivered by some heavyweight stocks, like, Bharat Electronics, Varun Beverages, Tube Investments of India, Cholamandalam Investment & Finance, Trent and AU Small Finance Bank in Midcap index.
Of the BSE Sector indices, the best performers in terms of percentage increase in market cap are: BSE Utilities, BSE Commodities, BSE Financial Services and BSE Capital goods indices. At the bottom of the pile are: BSE Info Tech, BSE Industrials and BSE Healthcare indices. The change in market cap can be gleaned from the above table.
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Read more:
Global Market data 31Dec2022
BSE Broad and Sector Indices Returns 30Dec2022
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Global bond yields, negative real interest rates and soft landing
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JP Morgan Guide to the Markets
Infosys Limited Buyback Offer 2022
Indians' Love For Cash Continues Unabated
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Mutual Fund Asset Class Returns
Global Bond Yields and Asset Prices
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Disclosure: I've vested interested in Indian stocks and other investments. It's safe to assume I've interest in the financial instruments / products discussed, if any.
Disclaimer: The analysis and opinion provided here are only for information purposes and should not be construed as investment advice. Investors should consult their own financial advisers before making any investments. The author is a CFA Charterholder with a vested interest in financial markets.
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