Investors’ Wealth Surges Over Rs 10.83 Lakh Crore In Three Days Amid Rally In Market

The Sensex jumped 817 points (1.50 per cent) to close at 55,464. In the past three days, the benchmark has gained 2,621 points

New Delhi: Indian investors have become richer by over Rs 10.83 lakh crore as stocks extended their gains after a three-session winning streak on Thursday, according to a report by the PTI.

The Sensex jumped 817 points (1.50 per cent) to close at 55,464. In the past three days, the benchmark has gained 2,621 points.

Tracking the ongoing rally in equities, the market capitalisation of BSE-listed firms soared by Rs 10,83,103.27 crore in three sessions to stand at Rs 2,51,93,934.31 crore.

Rahul Sharma from Equity 99 said, “Markets today were driven majorly by election results across various states. Today post markets Russia-Ukraine are to hold talks which will have major effect on markets tomorrow.”

From the 30-share Sensex pack, Hindustan Unilever Limited, Tata Steel, SBI, IndusInd Bank, Axis Bank, Bajaj Finserv, Nestle, and Maruti Suzuki India were the biggest gainers on Thursday, jumping up to 5.17 per cent.

In contrast, Tech Mahindra, Dr Reddy's Laboratories and Tata Consultancy Services were the laggards.

Harsh Parekh, technical analyst, Bonanza Portfolio, said, “Indian bourses started off with huge gains amid a volatile trading session as participants had their eyes on state election results. The trend... (shows) BJP as clear winners in 4 out of 5 state elections. All the sectoral indices ended in the green.”

In the broader market, the BSE smallcap and midcap indices jumped up to 1.18 per cent. All BSE sectoral indices settled in the green, with FMCG, realty, metal and bank emerging as the lead gainers.

Meanwhile, global oil benchmark Brent crude jumped 5.11 per cent to $116.8 a barrel.

"Markets inched higher for the third successive session and gained over 1.5 per cent, tracking favourable cues. Positive global sentiment led to the gap-up opening in the benchmark.

"As the day progressed, sentiments were boosted as the state elections outcome so far indicated a clear majority to the BJP in 4 states out of 5, showing political stability," said Ajit Mishra, vice president-research, Religare Broking.