Investors' wealth surges by Rs 2 lakh cr as Sensex surges 996 points on firm global cues
Investor wealth surged by Rs 2,01,549.38 crore on Wednesday following a rally in the broader market
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 percent higher at 31,605.22. During the day, it gained 1,051.3 points to 31,660.60.
Led by the rally in the equity market, the market capitalisation of BSE-listed companies soared Rs 2,01,549.38 crore to Rs 1,23,62,539.79 crore.
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"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 percent, followed by ICICI Bank, HDFC Bank, IndusInd Bank and Bajaj Finance.
BSE bankex rallied 7.31 percent, 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 percent higher.
On the BSE, 1,345 companies advanced, while 974 declined and 178 remained unchanged.
Market benchmark Sensex staged a smart recovery from the day's low to end with marginal losses on Monday amid a negative trend in global equities
The top gainers of the day were Bajaj Finance, Indusind Bank, Bajaj Finserv, ICICI Bank, and Kotak Bank
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The top gainers were Bajaj Finserv, Bajaj Finance, Axis Bank, Reliance, and Indusind Bank, while the top laggards included HDFC, HCL Tech, Bajaj Auto, Larsen & Toubro (LT), and SBI