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Investor wealth jumps Rs 1.91 lakh crore as mkts rally
Investor wealth surged by Rs 1,91,540.25 crore on Thursday following a rally in the broader market. The 30-share BSE Sensex closed at 34,208.05, up 700.13 points, or 2.09 per cent.
The rally in the equity market helped the market capitalisation of BSE-listed companies gain Rs 1,91,540.25 crore to Rs 1,35,48,847.54 crore. Bajaj Finance was the top gainer in the Sensex pack, rising 5.46 per cent, followed by Kotak Bank, Axis Bank, HDFC Bank, SBI and PowerGrid. 22 companies from the 30-share list closed with gains. BSE bankex, finance, metal, power and energy indices rallied up to 3.81 per cent, while telecom and healthcare ended in red. In the broader market, the BSE mid-cap and small-cap indices rose by up to 1.48 per cent.
"In spite of negative global cues, Indian indices ended the day positive with steady gains. With the Supreme court AGR ruling providing a respite to the exposed banks, the relief was visible in the banking stocks especially those which had exposure to the telecom companies. The banking index contributed the most to the positivity and almost all components of the index ended the day positive. The current geopolitical situation and associated comments also gave some support to sectoral movements," said Vinod Nair, Head of Research at Geojit Financial Services. Bank shares witnessed a relief rally after the Centre informed the Supreme Court that the Department of Telecommunications (DoT) has decided to withdraw 96 per cent of the Rs 4 lakh crore demand for AGR related dues raised against non-telecom PSUs like GAIL..