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  1. Post-Budget rally adds over Rs 4 lakh cr to investor wealth

Post-Budget rally adds over Rs 4 lakh cr to investor wealth

Investors in the domestic market are richer by over Rs 4 lakh crore because of the two-session post-Budget rally.

By: | Mumbai | Updated: March 3, 2016 10:32 AM
sensex-investors660 Post-budget rally: Market capitalisation (m-cap) of BSE-listed companies surged by Rs 4,13,838 crore to Rs 89,96,983 crore in two days.

Investors in the domestic market are richer by over Rs 4 lakh crore because of the two-session post-Budget rally.

The benchmark BSE Sensex on Wednesday climbed by 463.63 points or 1.95 per cent to 24,242.98. In the previous session the index had gained 777 points — its best single-day show in nearly seven years.

With this, the index has gained 1,240.98 points in two trading sessions.

Consequently, the market capitalisation (m-cap) of BSE-listed companies surged by Rs 4,13,838 crore to Rs 89,96,983 crore in two days.

“The post budget rally extended for yet another day, with banks leading the pack after RBI eased capital regulations,” said Anand James, Co Head Technical Research Desk, Geojit BNP Paribas.

Reserve Bank on Tuesday announced amendments to recognise more balance sheet items as common equity tier-I capital which will help unlock up to Rs 35,000 crore for these lenders impacted by asset quality troubles.

Meanwhile, among the 30-Sensex components, 23 ended with gains led by SBI, ICICI Bank, Adani Ports and Hero MotoCorp.

Seven companies ended with losses where Mahindra & Mahindra took the biggest hit of 5.31 per cent.

Among sectoral indices, the BSE realty index jumped most by rising 5.05 per cent, followed by banking (4.92 per cent), infrastructure (2.84 per cent), PSU (2.57 per cent), IT (2.49 per cent) and power (2.13 per cent).

At the BSE, 1,964 stocks advanced and 712 declined while 118 stocks remained unchanged.

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