Mumbai: The rally in the stock market has added a whopping Rs2.51 trillion to investors’ wealth last week, accounting for over one-third of the total Rs7 trillion gains made by investors since October when the Sensex had plunged below 8,000 levels.
The total investors’ wealth, measured in terms of combined market capitalization of all the listed companies, has increased by over Rs7,00,000 crore to Rs31,46,000 crore on Friday.
The total market capitalization had been Rs24,10,256 crore on 27 October, when the benchmark Sensex had dropped to a 52-week low of 7,697 points.
From the beginning of the year, the benchmark 30-share index Sensex has made gradual recovery and the sharp surge last week has led the index to cross the 10,000 level again.
The counter rally in the market last week saw the Sensex gaining over 1,000 points, amid the benchmark index making its biggest single day gain.
Interestingly, the sharp gain last week added a whopping over Rs2,51,429 crore to the total investors wealth, regaining a large part of the lost ground during the meltdown.
Further, the 30 Sensex companies, which account for over 47% of the total market capitalization of all the companies, saw their combined market valuation rise by over Rs1.51 crore in the week ended 27 March.
The combined market capitalization of the 30 bluechip stocks rose to Rs15,53,000 crore on Friday, from Rs14,02,000 crore on 20 March.
Among the Sensex companies Reliance Industries, Oil and Natural Gas Corporation (ONGC), State Bank of India and Bharti Airtel were among the major gainers with their stock prices surging between 9 and 20%.
At the end of trade on Friday, the market capitalization of country’s most valued firm Reliance Industries rose to Rs2,43,624 crore, a gain of nearly Rs33,000 crore over the last week.
Besides, the country’s largest lender, State Bank of India, added about Rs11,000 crore last week, taking its total valuation to Rs71,446 crore at the last trading session on Friday, while Sunil Mittal-led Bharti Airtel added Rs10,042 crore.