Investors Become Richer By Rs 7.90 Lakh Crore In 5 Days Of Market Rally
Equity investors' wealth went up by Rs 7.90 lakh crore in five days of rally in the BSE Sensex, which is on a record-breaking run helped by unabated foreign fund inflows and largely bullish investor sentiments.
Rallying for the fifth straight session, the 30-share BSE Sensex jumped 274 points or 0.42 per cent to settle at its all-time closing high of 65,479.05 on Tuesday. During the day, the benchmark surged 467.92 points or 0.71 per cent to hit its lifetime intra-day peak of 65,672.97.
Investors' wealth climbed Rs 7,90,235.84 crore in five days of rally. The market capitalisation of BSE-listed firms also reached an all-time high of Rs 2,98,57,649.38 crore on Tuesday.
Sensex gained over 2,500 points in the past five sessions.
Bajaj Finance was the biggest gainer in the Sensex chart, climbing 7.17 per cent, followed by Bajaj Finserv which rallied 5.76 per cent. Tech Mahindra, Sun Pharma, NTPC, Titan, Wipro, Tata Consultancy Services, Kotak Mahindra Bank, Infosys, State Bank of India and ITC were the other major gainers.
Bharti Airtel, Axis Bank, Reliance Industries, IndusInd Bank, Tata Steel and UltraTech Cement were among the laggards.
In Asian markets, Shanghai and Hong Kong settled in the green while Seoul and Tokyo ended lower.
Equity markets in Europe were trading on a mixed note in the mid-session deals. The US markets ended in positive territory on Monday.
Global oil benchmark Brent crude climbed 1.43 per cent to USD 75.72 a barrel.
Foreign Portfolio Investors (FPIs) bought equities worth Rs 2,134.33 crore on Tuesday, according to exchange data.
FPIs pumped Rs 47,148 crore in the Indian equities in June, making it the highest inflow in 10 months.
"Buoyancy in the markets continued as benchmark indices touched new highs in spite of mixed Asian cues and weak European markets in early trades. The cushion provided by Indian markets on the back of its strong fundamentals are offsetting some of the negative catalysts seen in key developed economies, and strong backing by the FIIs in recent weeks is a testimony to it," said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd. PTI SUM HVA
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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