Latest News | Investors' Wealth Swells by Rs 4.46 Lakh Cr as Stocks Rebound
Get latest articles and stories on Latest News at LatestLY. Market investors became richer by Rs 4.46 lakh crore on Friday as stocks made a smart comeback after the previous day's decline, driven by a rally in global peers.
New Delhi, Aug 9 (PTI) Market investors became richer by Rs 4.46 lakh crore on Friday as stocks made a smart comeback after the previous day's decline, driven by a rally in global peers.
The 30-share BSE Sensex jumped 819.69 points or 1.04 per cent to settle at 79,705.91. The benchmark surged 1,098.02 points or 1.39 per cent to hit the day's high of 79,984.24.
The market capitalisation of BSE-listed firms went up by Rs 4,46,308.99 crore to Rs 4,50,21,816.11 crore (USD 5.37 trillion).
"Strong global market cues provided a major impetus to local shares as Sensex surged more than 1,000 points in intra-day trade on all-round buying support. Despite volatility in foreign fund flows this year, capital infusion by domestic institutions have been robust over the past year or so, which is giving local markets a major succour in times of volatile phase," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.
Most of the Sensex firms settled in the positive territory. Tech Mahindra, Tata Motors, Mahindra & Mahindra, JSW Steel, HCL Technologies, State Bank of India, Reliance Industries and Infosys were the biggest gainers.
Kotak Mahindra Bank and Sun Pharma were the laggards from the Sensex pack.
In the broader market, the BSE midcap gauge jumped 1.21 per cent and smallcap index climbed 0.79 per cent.
All the indices ended in the positive territory, with IT surging by 1.59 per cent, consumer discretionary by 1.57 per cent, realty by 1.56 per cent, auto by 1.51 per cent, teck by 1.41 per cent and capital goods by 1.37 per cent.
A total of 2,330 stocks advanced while 1,579 declined and 97 remained unchanged on the BSE.
"Positive US jobless claims data eased the fears of recession and provided a favourable broader market reaction," said Vinod Nair, Head of Research, Geojit Financial Services.
(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)