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BSE SME market cap moving towards Rs 7,000 crore

Mumbai, May 26 (KNN) Riding the Modi wave, the companies listed on the BSE SME platform have notched up big gains with their market capitalization nearing Rs 7,000 crore as the number of firms on the platform has gone up to 58.
The market cap of BSE SME ended at Rs 6,901.77 crore as the market closed, with 16 advances and 6 declines.
The market cap of the SME listed companies today afternoon reached Rs 6, 950 crore with 14 of the firms making advances out of 22 traded.
The BSE SME is moving in tandem with the overall stock market which appears to be in a state of frenzy as NDA government headed Narendra Modi takes charge at the centre.
BSE SME Platform offers an entrepreneur an investor friendly environment, which enables the listing of SMEs from the unorganized sector scattered throughout India, into a regulated and organized sector. 
BSE commenced the SME platform on March 2012 and in over two- year period, BSE has achieved more than 90 per cent market share helping Indian SMEs create a market capitalisation of more than USD 1 billion.  Average IPO size on BSE SME is close to Rs 9 crore per issue.