Investors' wealth surges by Rs 2 lakh cr as Sensex surges 996 points on firm global cues

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.

#MarketAtClose | Financials help Sensex & Nifty record the best trading day of this month; Sensex & Nifty gain over 3% each, Nifty Bank surges over 7% pic.twitter.com/3NtAVTr1nl

— CNBC-TV18 (@CNBCTV18Live) May 27, 2020

“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.