Investors Richer By Over Rs 5.35 Lakh Crore In 2 Days Of Market Rally: Report
Equity investors became richer by over Rs 5.35 lakh crore in two days of market rally despite largely negative global cues amid concerns over the Omicron strain of the coronavirus.
The 30-share BSE benchmark Sensex jumped 776.50 points or 1.35 per cent to close at 58,461.29 on Thursday.
In the previous trade, the index had rallied 619.92 points or 1.09 per cent to close at 57,684.79.
With the rally in equities, the market capitalisation of BSE-listed companies jumped by Rs 5,35,562.58 crore in two days to stand at Rs 2,62,52,791.03 crore.
"Irrespective of the weak sentiments in the international markets, domestic indices continued to rise due to gains in IT, financials and metal stocks amid strong domestic macroeconomic data," said Vinod Nair, Head of Research at Geojit Financial Services.
HDFC was the biggest gainer among the Sensex constituents on Thursday, jumping 3.92 per cent, followed by PowerGrid, Sun Pharma and Tata Steel.
ICICI Bank, Axis Bank and UltraTech Cement were the three laggards from the 30-share pack.
In the broader market, the BSE midcap and smallcap indices jumped up to 1.12 per cent.
"Equity markets opened flat but gained momentum throughout the session, despite weak global cues on account of Omicron concern," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
