Investors' wealth rises Rs 2.73 lakh cr as BSE benchmark Sensex zooms 582 points

Investor wealth soared by Rs 2.73 lakh crore on Tuesday in a buoyant equity market where the BSE benchmark zoomed 581.64 points helped by encouraging quarterly results and US-China trade deal optimism

Press Trust of India October 29, 2019 18:19:13 IST
Investors' wealth rises Rs 2.73 lakh cr as BSE benchmark Sensex zooms 582 points
  • The 30-share Sensex jumped 581.64 points to close at 39,831.84

  • During the day, it advanced 666.81 points to 39,917.01

  • The market capitalisation of BSE-listed firms soared Rs 2,73,355.21 crore to Rs 1,52,04,693.34 crore

New Delhi: Investor wealth soared by Rs 2.73 lakh crore on Tuesday in a buoyant equity market where the BSE benchmark zoomed 581.64 points helped by encouraging quarterly results and US-China trade deal optimism.

The 30-share Sensex jumped 581.64 points to close at 39,831.84. During the day, it advanced 666.81 points to 39,917.01.

The market capitalisation of BSE-listed firms soared Rs 2,73,355.21 crore to Rs 1,52,04,693.34 crore.

Investors wealth rises Rs 273 lakh cr as BSE benchmark Sensex zooms 582 points

Representational image. Reuters.

"A strong momentum is seen in the market as healthy Q2 earnings from big corporate and attractive valuation for mid & small caps is providing a favourable risk-reward to investors.

"The clouds over global market are gradually settling down with developments in trade deal and Brexit, while rate cut expectation from (US) FED will further add impetus to emerging markets like India," Vinod Nair, Head of Research, Geojit Financial Services Ltd said.

According to Ajit Mishra, Vice President, Research, Religare Broking Ltd, "The markets in the near term are likely to be driven by earnings outcome and auto volume numbers which will be a crucial indicator of revival in consumer spending. Further, the outcome of US Fed meet (scheduled for October 29-30) will also influence the market trend."

From the 30-share Sensex pack, 26 scrips closed with gains led by Tata Motors that zoomed 16.63 percent after the company reported narrowing of losses in the September quarter.

At the BSE, 1,435 companies advanced, while 1,029 declined and 213 remained unchanged.

Updated Date:

also read

Market roundup: Sensex ends 514 points higher, Nifty at 17,562; today's top gainers and losers
Business

Market roundup: Sensex ends 514 points higher, Nifty at 17,562; today's top gainers and losers

Sensex went up by 514.34 points to end at 59,005.27 while Nifty ended at 17,562.00 after a gain of 165.10 points.

Market roundup: Sensex falls by 524 points, Nifty ends at 17,396; top gainers and losers
Business

Market roundup: Sensex falls by 524 points, Nifty ends at 17,396; top gainers and losers

Sensex fell by 524.96 points to end at 58,490.93 while Nifty ended at a loss of 188.25 points at 17,396.90.

Market roundup: Sensex falls by 125 points, Nifty ends at 17,585; today's top gainers and losers
Business

Market roundup: Sensex falls by 125 points, Nifty ends at 17,585; today's top gainers and losers

The top gainers of BSE Sensex were Kotak Bank, HDFC Bank, Bharti Airtel, Maruti, and Nestle India. The biggest losers were Tata Steel, SBI, TCS, Hindustan Unilever, and Reliance