Investor Wealth Soars To Over 7.2 Lakh Crores, Stock Race Tracking
Investors’ assets rose by more than 7.2 lakh crore on Wednesday, along with an increase in the equity benchmark for the second straight session, following the previous four days of sharp declines.
Shared BSE Sensex 30 zoomed 1,223 points or 2.29% to 54,647, while the broader NSE Nifty jumped 332 points or 2.07% higher to close at 16,345.
Market breadth was generally positive with 2,655 stocks advancing while 686 stocks fell on the BSE. Fourteen of the 15 industry measures – compiled by the National Stock Exchange – are colored green.
The recovery on domestic exchanges pushed the market capitalization of BSE-listed companies up Rs 7,21,949.74 to Rs 2,48,2780.78 in just two days. That includes an increase in investors’ assets by more than ₹2.51 lakh crores on Tuesday.
The market has faced 4 sessions of sharp declines from February 28 to March 7.
“Markets extended Tuesday’s rally and rallied more than 2%, tracking the recovery in global indices. After a steady start, the benchmark inched higher as the day progressed and approached. Big players like Reliance, HDFC Bank and Infy contributed half of the index’s gains,” Ajit Mishra, Vice President of Research at Religare Broking Ltd, told PTI.
Mr Mishra added that the recent recovery is in line with gains globally and it would be too early to call it a reversal.