Investor Wealth Swells Over By Rs 5.74 Lakh Crore In Two Days As Stock Market Picks Up Pace

Stock market on Thursday: Sensex zoomed 874 points to close at 57,912, while the broader NSE Nifty moved 256 points higher to close at 17,393

The market capitalisation of BSE-listed companies surged by Rs 5,74,427.92 crore in two sessions. Image: Getty

New Delhi: After market rebounded in the past two sessions, investors have become wealthier by over Rs 5.74 lakh crore.

On Thursday, Sensex zoomed 874 points to close at 57,912, while the broader NSE Nifty moved 256 points higher to close at 17,393.

The indices snapped its five-day losing streak on Wednesday. The Sensex had closed 574.35 points (1.02 per cent) higher at 57,037.

Along with the recovery in equities, the market capitalisation (Mcap) of BSE-listed companies surged by Rs 5,74,427.92 crore in two sessions to stand at Rs 2,71,77,156.37 crore, according to a report by the PTI.

“Positive global clues lifted sentiments for the second straight day. The board-based rally saw buying across different sectors," said Shrikant Chouhan, head of equity research (Retail), Kotak Securities.

On Thursday, M&M was the top gainer among the 30-share Sensex platform, climbing 3.50 per cent. It was followed by Maruti Suzuki, Bajaj Finserv, Asian Paints, RIL, Kotak Mahindra Bank, HDFC, and TCS.

In the broader markets, the BSE Midcap and Smallcap indices rose in tandem with the frontline indices and added up to 1.3 per cent.

About 2,303 stocks advanced on Thursday, and 1,115 declined, while 103 remained unchanged.

Among the BSE sectoral indices, auto jumped the most by 2.14 per cent, followed by consumer discretionary goods and services (1.60 per cent), finance (1.54 per cent), industrials (1.45 per cent) and IT (1.45 per cent). Metal index was the only laggard.

On the Nifty platform, 14 out of the 15 sector gauges ended in the positive zone. Sub-indexes Nifty Auto and Nifty Financial Services outperformed the index by rising as much as 2.23 per cent and 1.54 per cent, respectively.

“Domestic equities witnessed a pullback rally after taking cues from its global peers and buying seen in Nifty heavyweights counter," Siddhartha Khemka, head - retail research, Motilal Oswal Financial Services told the PTI.