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Business News/ Markets / Stock Markets/  Investors get richer by 2.83 lakh crore as RBI booster shot lifts market
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Investors get richer by ₹2.83 lakh crore as RBI booster shot lifts market

The 30-share BSE Sensex ended 986.11 points or 3.22% higher at 31,588.72
  • On the BSE, 1,716 scrips advanced, while 714 declined and 163 remained unchanged
  • A woman prays as a screen displays a broadcast of the Reserve Bank of India (RBI) Governor Shakitanka Das inside the Bombay Stock Exchange (BSE) in Mumbai, India, on Friday, March 27, 2020. The RBI cut interest rates and announced steps to boost liquidity in a stimulus worth 3.2% of gross domestic product to counter the economic impact of the coronavirus outbreak. Photographer: Dhiraj Singh/Bloomberg (Bloomberg)Premium
    A woman prays as a screen displays a broadcast of the Reserve Bank of India (RBI) Governor Shakitanka Das inside the Bombay Stock Exchange (BSE) in Mumbai, India, on Friday, March 27, 2020. The RBI cut interest rates and announced steps to boost liquidity in a stimulus worth 3.2% of gross domestic product to counter the economic impact of the coronavirus outbreak. Photographer: Dhiraj Singh/Bloomberg (Bloomberg)

    NEW DELHI : Investor wealth on Friday rose by 2,83,740.31 crore as markets soared over 986 points after a second batch of stimulus measures by the RBI.

    The 30-share BSE Sensex ended 986.11 points or 3.22 per cent higher at 31,588.72.

    Rise in the equity market helped the market capitalisation of BSE-listed companies jump 2,83,740.31 crore to 1,23,50,980.37 crore at close of trade.

    From the Sensex pack, Axis Bank was the top gainer, surging 13.45 per cent, followed by ICICI Bank (9.89 per cent), IndusInd Bank (9.13 per cent), Maruti (7.36 per cent), TCS (5.32 per cent), Kotak Bank (4.96 per cent) and Reliance Industries (4.82 per cent).

    "The Indian markets ended Friday's session on a firm note led by some strong measures by the RBI to ensure adequate liquidity and financial stability. The announcement from the RBI is a big positive for the Indian markets as well as the economy. Importantly, it has triggered a surge in the banking space which was underperforming for quite a sometime now and sustained recovery in the auto pack further added to the buoyancy," said Ajit Mishra, VP - Research, Religare Broking Ltd.

    Interest rate-sensitive banking, financial, auto and realty indices on the BSE settled up to 6.83 per cent higher.

    In his second televised address since the nationwide lockdown began on March 25, Reserve Bank of India (RBI) Governor Shaktikanta Das pledged to boost liquidity and expand bank credit.

    In the broader market, the BSE midcap and smallcap closed 2.12 per cent and 2.44 per cent higher, respectively.

    On the BSE, 1,716 scrips advanced, while 714 declined and 163 remained unchanged.

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    Published: 17 Apr 2020, 08:05 PM IST
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