Investor wealth surges Rs 1.78 lakh cr to Rs 144 lakh cr in bullish market; Sensex zooms 611 points

From the 30-share Sensex basket, 28 stocks ended with gains led by Bharti Airtel, NTPC, ITC and Tata Motors.

PTI March 12, 2018 19:41:16 IST
Investor wealth surges Rs 1.78 lakh cr to Rs 144 lakh cr in bullish market; Sensex zooms 611 points

New Delhi: Investor wealth on Monday rose by Rs 1.78 lakh crore, helped by a smart rally in the stock market, where the benchmark Sensex spurted by 611 points -- its biggest single-day gain in two years. Led by the robust surge in stocks, the total market capitalisation of BSE-listed companies went up by Rs 1,78,393.67 crore to Rs 1,44,52,009 crore. The Sensex surged 610.80 points to end at 33,917.94.

"After 10 percent correction from the all-time high levels surrounded by whole host of negatives (especially from banking sector), Indian markets had phenomenal day with frontline indices rallying +2 percent offering much needed cheer and relief to the investors.

Investor wealth surges Rs 178 lakh cr to Rs 144 lakh cr in bullish market Sensex zooms 611 points

Representational image. Getty Images.

"Albeit today's rally was on the back of heavy short-covering from large caps, still the market will take it with both hands," said Jagannadham Thunuguntla, Sr VP and Head of Research (Wealth), Centrum Broking Limited. From the 30-share Sensex basket, 28 stocks ended with gains led by Bharti Airtel, NTPC, ITC and Tata Motors. Among sectoral indices, the BSE metal index rose the most by 2.32 percent.

The BSE mid-cap index ended higher by 0.76 percent and small-cap index 0.56 percent. "Key benchmark indices started the day on a positive note and extended gains in afternoon trade to hit fresh day's highs as steady buying demand in index pivotals gave a fillip to the wider market.

Positive Asian stocks boosted sentiment on the domestic bourses while global stocks gained as international trade-war concerns abated and were replaced by economic optimism following a stronger US jobs report released over the weekend," said Karthikraj Lakshmanan, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.

Updated Date:

also read

Rupee recovers from record low, inches higher by 9 paise against US dollar in early trade
Business

Rupee recovers from record low, inches higher by 9 paise against US dollar in early trade

At the interbank foreign exchange, the rupee opened at 78.26 against the American dollar, then inched higher to quote at 78.23, registering a rise of 9 paise from the previous close

Rupee drops 12 paise to 78.10 against US dollar
Business

Rupee drops 12 paise to 78.10 against US dollar

At the interbank foreign exchange market, the local currency opened at 78.00 and finally ended at 78.10, down 12 paise over its previous close

Rupee settles flat at 78.09 against US dollar
Business

Rupee settles flat at 78.09 against US dollar

At the interbank forex market, the rupee opened strong at 78.03 against the greenback and witnessed an intra-day high of 78.02 and a low of 78.09