As Markets Regained Positive Territory, Investors Richer By Rs 4.11 Lakh Crore

Equity investors became richer by over Rs 4.11 lakh crore on Tuesday as markets returned to winning ways after declining for two straight sessions.

The 30-share BSE Sensex jumped 776.72 points or 1.37 per cent to end at 57,356.61 points. Reflecting the bullish sentiments, the market capitalisation of BSE-listed firms jumped Rs 4,11,627.5 crore to Rs 2,69,41,299.15 crore.

M&M was the biggest gainer among the Sensex firms, jumping 4.11 per cent followed by PowerGrid, Titan, IndusInd Bank, Bajaj Finance, Reliance Industries, Larsen & Toubro, SBI, Bharti Airtel and HUL.

Axis Bank, Asian Paints, Maruti and TCS were the four laggards.

In the broader market, the BSE mid cap and small cap gauges rose up to 1.62 per cent.

All BSE sectoral indices gained, led by power (3.63 per cent), realty (3.48 per cent), utilities (3.39 per cent), auto (2.80 per cent) and consumer durables (2.22 per cent).

"While markets are in an oversold position, the falling yields in US markets and sliding crude oil prices came as a major respite for investors who partially covered their short positions.

"However, other concerns like China's coronavirus problems, likely interest rate hike issues in the US and the conflict between Russia & Ukraine will continue to be potential market spoilers," according to Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Limited.