Investors rake in over Rs 12 L cr as markets record sharp gains

NEW DELHI: Equity investors became richer by over Rs 12 lakh crore on Tuesday, helped by a smart rally in the broader market.

The 30-share BSE benchmark zoomed 1,344.63 points or 2.54 per cent to settle at 54,318.47 points with all of its constituents closing in the green.

Tracking the sharp rally in equities, the market capitalisation of BSE-listed firms jumped Rs 12,05,523.65 cr to Rs 2,55,55,447.68 cr.

“Markets witnessed a sharp rebound and gained over 2.5 per cent, thanks to favourable cues. The benchmark opened higher led by supportive Asian markets as China eased lockdown restrictions. As the day progressed, healthy buying across sectors and short-covering supported the market to maintain its momentum.

“It is a much-needed breather for the bulls after five weeks of slide,” said Ajit Mishra, VP - Research at Religare Broking Ltd. Tata Steel, Reliance Industries, ITC, Wipro, ICICI Bank, Larsen & Toubro, HCL Technologies and Maruti were the major gainers among the Sensex constituents.

Asian markets in Hong Kong, Seoul, Tokyo and Shanghai ended higher. Equity exchanges in Europe were trading in the green in the afternoon session. In the broader market, the BSE smallcap gauge rallied 2.78 pc and midcap index jumped 2.51 per cent.

A total of 2,624 stocks advanced, while 714 declined and 124 remained unchanged.

In the broader market, the BSE smallcap gauge rallied 2.78 per cent and midcap index jumped 2.51 per cent