Investor wealth rises by Rs 2.20 lakh-crore on market rally
Investor wealth zoomed by Rs 2,20,928.11 crore on Thursday, driven by a rally in the equity market which bounced back after two days of decline.
The 30-share BSE Sensex soared 646.40 points or 1.69 percent to close at 38,840.32.
Following the upbeat sentiment, the market capitalization of BSE-listed companies gained Rs 2,20,928.11 crore to Rs 1,55,21,743.23 crore.
“Indian indices again had a strong showing today backed by strong gains in shares of RIL, which alone contributed to more than half of the gains seen on Nifty. Positive global cues also played a part in the positivity seen in the markets,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market heavyweight Reliance Industries surged to its life-time high during the session amid reports the company has held discussions with Amazon for the retail arm stake sale. The stock finally ended at 7.10 percent higher.
Among the 30-share frontline companies pack, 21 closed with gains while nine closed lower. Asian Paints, Axis Bank, IndusInd Bank, UltraTech Cement and Bajaj Finance were among the other major index gainers, rising up to 4.25 percent, while Tata Steel, Bharti Airtel, Kotak Bank, Titan and HDFC Bank closed lower by up to 2.24 percent.
In the broader market, the BSE mid-cap and small-cap indices gained up to 1.27 percent.
BSE energy index rallied 6.26 percent, followed by oil and gas.
On the BSE, 1,789 companies advanced, while 922 declined and 165 remained unchanged.