Investors' wealth jumps ₹2.93 lakh cr as markets rally after 3-day decline
Tracking the bullish trend, the market capitalisation of BSE-listed companies jumped ₹2,93,054.25 crore to reach ₹2,33,94,917.25 crore
NEW DELHI : Investors' wealth jumped ₹2,93,054.25 crore on Thursday as markets returned to winning ways after falling for three straight sessions.
The 30-share BSE benchmark Sensex zoomed 638.70 points or 1.22% to close at 52,837.21. During the day, it gained 668.75 points to 52,867.26.
Tracking the bullish trend, the market capitalisation of BSE-listed companies jumped ₹2,93,054.25 crore to reach ₹2,33,94,917.25 crore.
"Buying returned in the Indian markets supported by the decent Q1 FY22 earning results and positive global sentiments," said Mohit Nigam, Head, PMS - Hem Securities.
Tech Mahindra was the biggest gainer in the 30-share pack, with a gain of 5.65%, followed by Bajaj Finance, Bharti Airtel, Bajaj Finserv, Tata Steel and L&T.
HUL was the biggest laggard, falling 2.27%, followed by Asian Paints, Bajaj Auto and Mahindra & Mahindra.
In the broader market, the BSE midcap and smallcap indices rose by up to 1.52%.
BSE metal, telecom, capital goods and industrials indices were the biggest gainers, gaining up to 3.02%, while FMCG closed lower.
"Markets recovered strongly and gained over a percent, after trading subdued for the last three consecutive sessions. Upbeat global markets triggered a gap up start which strengthened further as the day progressed," Ajit Mishra, VP - Research, Religare Broking Ltd said.
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