Investor wealth surges by Rs 2 lakh crore as markets rally
by PTI(Representative image)
NEW DELHI: Investor wealth surged by Rs 2,01,549.38 crore on Wednesday following a rally in the broader market.
The 30-share BSE sensex settled 995.92 points or 3.25 per cent higher at 31,605.22. During the day, it gained 1,051.3 points to 31,660.60.
Sensex rises 996 points to close at 31,605; Nifty reclaims 9,300
Led by the rally in equity market, the market capitalisation of BSE-listed companies soared Rs 2,01,549.38 crore to Rs 1,23,62,539.79 crore.
"Firm global cues led to a positive start which strengthened as the day progressed, thanks to the strong recovery in the banking and financial stocks," Ajit Mishra, VP - Research, Religare Broking Ltd said.
"Further, news of easing of restrictions and the gradual re-opening of the economies across the world raised investors' hopes of the economy getting back on track," he added.
Axis Bank was the top gainer in the sensex pack, rising 13.46 per cent, followed by ICICI Bank, HDFC Bank, IndusInd Bank and Bajaj Finance.
BSE bankex rallied 7.31 per cent, followed by finance, IT, metal, teck and energy. BSE healthcare was the only loser among the indices.
In the broader market, BSE midcap and smallcap indices closed up to 0.54 per cent higher.
On the BSE, 1,345 companies advanced, while 974 declined and 178 remained unchanged.