Investors richer by over Rs 10.19 lakh crore in 3-day rally


NEW DELHI: Equity investors’ wealth jumped by over Rs 10.19 lakh crore in the three-day market rally to Monday.
On Monday, the 30-share BSE Sensex soared by 1,041.08 points or 1.90% to settle at 55,925.74. In three days, the bechmark has zoomed 2,176.48 points or 4%.
Helped by jump in equities, the market capitalisation of BSE-listed firms went up by Rs 10,19,936.84 crore to Rs 2,58,47,092.40 crore in three days.
“Indian markets witnessed a smart rally on the back of positive global cues and early arrival of monsoon giving hopes of slowdown in inflation. On the global front, European and Asian markets edged higher following US market rally on last Friday,” said Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd.
Among Sensex stocks, Titan rose the most by 4.94%, followed by Mahindra & Mahindra that rallied 4.69%, Infosys by 4.57%, L&T by 3.77%, Tech Mahindra by 3.59%, HCL Technologies by 3.57%, TCS by 3.47% and Reliance Industries by 3.44%.
In the broader market, the BSE midcap index jumped 2.28% and smallcap index gained 2.23%.
All BSE sectoral indices ended higher, with consumer durables jumping 4.41%, followed by realty (3.96%), Information Technology (3.75%), teck (3.53%), consumer discretionary goods & services (2.85%) and energy (2.72%).
“A near term trend reversal is visible in the domestic market, supported by valuation comfort and positive trend in the global counterparts. US Stocks were boosted on softening inflation worries which will be a crucial factor in deciding the tone of the upcoming Fed policy meeting.
“Easing of long-running lockdown in China also helped in lifting sentiments across Asian markets,” Vinod Nair, Head of Research at Geojit Financial Services, said.





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