Thursday, May 26 2005 19:52 Hrs (IST) - World Time -

New Delhi: Capital market witnessed a "resurgence" with Sensex touching all time high and investors' wealth swelling to a whopping Rs 16,98,429 crore in 12 months of UPA (United Progressive Alliance) rule, Finance Minister P Chidambaram said today (May 26, 2005).

"The capital market has surged with BSE Sensex going up to 6,493 points by end of 2004-05, as against 5,591 points in the end of 2003-04 despite the fact that UPA Government came to power four days after Black Monday (BM) (on May 17 when Sensex dropped by over 800 points in a single day)," he said in a press conference today.

"As of May 24, the Sensex has gone up further to 6,565 points," he said.

Investors wealth measured in terms of market capitalisation also went up by over 40 per cent during the last 12 months.

The m-cap surged to Rs 17,51,000 crore as on May 24, from Rs 16,98,429 crore in March 31, 2005 and Rs 12,01,207 crore in March end 2004.

The bull phase in the capital market could be attributed to a 32 per cent jump in resource mobilisation through both equity and debt aggregating Rs 74,812 crore in 2004-05 from Rs 57,256 crore in 2003-04.

Chidambaram said the additional resource worth Rs 17,500 crore was mopped up by various companies for capital expenditure.

India Inc raised Rs 31,886 crore in equity and Rs 42,926 crore in debt in 2004-05. Equity issues aggregated Rs 23,281 crore and debt totalled Rs 33,975 crore in 2003-04.