India News | Investors Richer by over Rs 13.16 Lakh Cr in Five Days of Market Rally
Get latest articles and stories on India at LatestLY. Investors' wealth has swelled by over Rs 13.16 lakh crore as benchmark indices continued their northward march for the fifth session on the trot on Monday.
New Delhi, Mar 14 (PTI) Investors' wealth has swelled by over Rs 13.16 lakh crore as benchmark indices continued their northward march for the fifth session on the trot on Monday.
The 30-share BSE Sensex jumped 935.72 points or 1.68 per cent to settle at 56,486.02 on Monday.
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In the past five trading sessions, the benchmark has zoomed 3,643.27 points or 6.89 per cent.
Propelled by the optimism in equities, the market capitalisation of BSE-listed firms jumped by Rs 13,16,944.74 crore in five trading sessions to Rs 2,54,27,775.78 crore.
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"Markets started the week on a buoyant note and gained over one and a half per cent, in continuation of the prevailing rebound. After the flat start, the benchmark inched gradually higher, thanks to healthy buying in banking and IT majors and finally ended around the day's high," said Ajit Mishra, VP - Research, Religare Broking Ltd.
Infosys topped the Sensex gainers' chart in Monday's session, spurting 3.76 per cent, while HDFC Bank climbed 3.25 per cent after the RBI on Saturday lifted all restrictions on the private sector lender, permitting it to launch new digital initiatives.
SBI, Maruti Suzuki, Axis Bank, ICICI Bank, Wipro and HDFC were among the other prominent winners.
Only four Sensex constituents closed lower -- HUL, Sun Pharma, Dr Reddy's and Tata Steel, dropping up to 1.66 per cent.
"Domestic equities opened flat but gained momentum during the session, extending the rally for the fifth consecutive day. Global markets were mixed amid hopes for a diplomatic solution to the Ukraine war, but cautiousness prevailed as uncertainty looms with the continuation of the war.
"Also given the US Fed meeting due this week and China announcing lockdown once again due to rising Covid cases kept the market vigilant," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
The broader market depicted a muted trend, with the BSE smallcap index gaining 0.31 per cent, while the midcap gauge inched up 0.02 per cent.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)