Investors' wealth zooms by Rs 12.7 L cr in May

Written by Press Trust of India | Mumbai | Updated: May 31 2009, 05:22am hrs
The stock market rally in May saw investors getting richer by a whopping Rs 12.78 lakh crore, accounting for more than half of the gains reaped since October when the Sensex had plummeted below the 8,000-level. The total investors wealth, measured in terms of combined market capitalisation of all the listed companies, has increased by over Rs 24,54,788.91 crore in the past seven months to Rs 48,65,044.91 crore at the end of May.

Interestingly, the sharp gain in May added a whopping over Rs 12,78,067.20 crore to the total investors wealth, helped in regaining a large part of the lost ground during the meltdown. The total market capitalisation stood at Rs 24,10,256 crore on October 27, when the benchmark Sensex had dropped to a 52-week low of 7,697 points.

The 30-share index on Friday closed at 14,625.25 points, gaining 90 % or 6,928.25 points from October lows. The BSE benchmark Sensex had gained 3,222 points or over 28.3 % in May, the highest monthly gain in over a decade, following a bullish phase in the domestic market. The 30-Sensex companies, which account for over 47% of the total market capitalisation of all the companies, saw their combined market valuation rise by over Rs 4,73,646 crore in a month.

The combined market capitalisation of the 30-blue chip stocks rose to Rs 22,23,427.46 crore today, from Rs 17,49,781.02 crore at the end of April.

Among the Sensex companies, ACC, DLF, Jaiprakash Associates, TCS and Tata Steel were among the major gainers on Fridaywith their stock prices surging between 6 to 9 %.