Investors Earn Over Rs 2.2 Lakh Crore As Equity Benchmarks Hit Record Highs

The S&P BSE Sensex rallied past the 64,000 mark to hit a new all-time high at 64,050.44 while the NSE Nifty 50 topped the 19,000-mark for the first-time ever and posted its new peak at 19,011.25

Earlier, on June 21, the market capitalisation of BSE-listed firms had hit an all-time high of Rs 2,94,36,594.50 crore. ( Image Source :Getty )

Equity market investors earned more than Rs 2.2 lakh crore in the market rally on Wednesday as the market capitalisation of BSE-listed companies jumped to Rs 294.33 lakh crore from Rs 292.13 lakh crore in the previous session, reported MoneyControl. The two key equity benchmarks, Sensex and Nifty, closed to new record highs on the back of all-around buying support and amid strong global cues.

The two indices were on a roll since morning. The S&P BSE Sensex rallied past the 64,000 mark to hit a new all-time high at 64,050.44. Eventually, the Sensex ended with a gain of 499 points at 63,915. On the other hand, the NSE Nifty 50 topped the 19,000-mark for the first-time ever and posted its new peak at 19,011.25. Finally, the Nifty50 closed with a gain of 155 points at 18,972.

Consistent FIIs buying and a dip in crude oil prices are being attributed to boosted investor sentiment. This is the second session in a row that the market that has touched new all-time highs. According to PTI, investor made about Rs 3.43 lakh crore in two days of the market rally.

Earlier, on June 21, the market capitalisation of BSE-listed firms had hit an all-time high of Rs 2,94,36,594.50 crore.

The BSE midcap index recorded a 0.7 per cent increase, while the smallcap index ended with no significant change. Sectorwise, all the indices closed with gains, with the services sector surging 2.35 per cent, capital goods rising by 1.14 per cent, power sector witnessing a jump of 1.02 per cent, healthcare sector advancing by 0.90 per cent, oil & gas sector increasing by 0.85 per cent, energy sector gaining 0.83 per cent, metal sector growing by 0.80 per cent, and industrials sector up by 0.70 per cent. 

As per the MoneyControl report, Adani Enterprises, Power Finance Corporation, and Adani Ports witnessed a significant increase in long positions, whereas Indiamart Intermesh, Tata Chemicals, and Vodafone Idea saw an increase in short positions. Notable volume surges of over 200 per cent were observed in Hindustan Copper, RBL Bank, and Torrent Pharma.

Over 150 stocks, including Dr. Reddy's Laboratories, Aurobindo Pharma, Torrent Pharmaceuticals, Jindal Saw, Zydus Lifesciences, Surya Roshni, Shakti Pumps, Texmaco Rail & Engineering, HBL Power Systems, Tata Motors, NTPC, Larsen & Toubro, and JSW Steel, reached their 52-week highs on the BSE, the report said. 

On June 29, the market will be closed due to Bakri Id.

"Domestic equities had a dream run with Nifty and Sensex scaling lifetime highs. Strong institutional flows, healthy macros, and robust earnings growth drove the domestic market toward new highs," Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services Ltd, told PTI.

Amar Ambani, Group President & Head - Institutional Equities at YES SECURITIES, told the news agency that investors are massively turning positive on risk assets, taking comfort from the recent fall in inflation, anticipating the end of the rate hike cycle.

Deepak Jasani, Head of Retail Research, HDFC Securities told MoneyControl, "Volumes on the NSE were higher than recent average on the monthly F&O expiry day. Broad market indices rose less than the Nifty even as the advance decline ratio closed at 1.14:1. Global stocks were mostly higher on Wednesday as surprisingly upbeat U.S. economic news eased global growth concerns. The current upward momentum could continue and 19000-19200 band could be the next resistance for Nifty in the near term. 18646 could be the support on corrections."

According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 2,024.05 crore on Tuesday.

In Asian markets, Tokyo and Hong Kong closed with gains, while Seoul and Shanghai finished lower. European markets were trading positively. The US markets closed significantly higher on Tuesday.