Investors richer by over Rs 6.56 lakh cr in two days of market rally

Bajaj Finance was the biggest gainer among the 30-frontline companies pack, jumping 2.94 per cent, followed by Bharti Airtel, Sun Pharma, Reliance Industries and SBI.

The market capitalisation of BSE-listed companies also gained Rs 6,56,828.59 crore to Rs 2,59,14,409.64 crore in two days.
The market capitalisation of BSE-listed companies also gained Rs 6,56,828.59 crore to Rs 2,59,14,409.64 crore in two days.

Investors’ wealth jumped by Rs 6,56,828.59 crore as stock markets continued the rally for a second day on Wednesday.

The 30-share BSE benchmark index zoomed 611.55 points or 1.09 per cent to 56,930.56. During the day, the benchmark jumped 670 points to 56,989.01.

The market capitalisation of BSE-listed companies also gained Rs 6,56,828.59 crore to Rs 2,59,14,409.64 crore in two days.

“Domestic market is gaining ground amid a positive rebound in the global market. The rebound was broad-based while mid and small caps outperformed as the bargain opportunity led investors to accumulate the beaten-down stocks,” said Vinod Nair, Head of Research at Geojit Financial Services.

Bajaj Finance was the biggest gainer among the 30-frontline companies pack, jumping 2.94 per cent, followed by Bharti Airtel, Sun Pharma, Reliance Industries and SBI.

In contrast, Wipro, ITC and Nestle India were the laggards.

“Bulls were in a strong position throughout the session as Indian markets moved in tandem with the recovery in other global equity indices,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said.

In the broader market, the BSE midcap and smallcap indices jumped up to 1.66 per cent.

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