Investors' wealth jumps Rs 3.98 lakh cr as stocks rally amid hopes of second stimulus package from govt
Investor wealth on Thursday climbed Rs 3,98,934.79 crore after markets rallied amid hopes of a second stimulus package from the government
New Delhi: Investor wealth on Thursday climbed Rs 3,98,934.79 crore after markets rallied amid hopes of a second stimulus package from the government.
The BSE 30-share Sensex ended the day 1,265.66 points or 4.23 percent higher at 31,159.62. During the day, it zoomed 1,331.24 points to 31,225.20.
Led by the rally in equities, the market capitalisation of BSE-listed companies advanced Rs 3,98,934.79 crore to Rs 1,20,81,461.88 crore.
"Indian markets in sync with global markets were up again today on expectations of infections peaking out and for more stimulus measures to be announced. This uptrend seems to be a short-term bear market rally and may not be sustainable," Geojit Financial Services Head of Research Vinod Nair said.
"In India, there is speculation that the package may help worst affected sectors and MSMEs may get some relief in the package to be announced," he added.
From the 30-share pack, 26 companies closed with gains with auto stocks stealing the limelight.
Mahindra and Mahindra was the top gainer, surging 16.74 percent, followed by Maruti Suzuki (13.16 percent), Titan (11.12 percent) and Hero MotoCorp (9.65 percent).
In the broader market, the midcap and smallcap indices rose up to 3.63 percent.
All the sectors closed with gains, led by auto which rallied 10.26 percent, followed by consumer durables, finance, telecom and banking.
At the BSE, 1,872 scrips advanced, while 538 declined and 166 remained unchanged.
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