Surge ahead! Investor wealth rises Rs 8.22 lakh crore in four trading sessions on bullish market

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December 28, 2020 8:09 PM

In the previous trade on Thursday, the 30-share index had surged 529.36 points or 1.14 per cent to close at 46,973.54. Equity markets were closed on Friday for Christmas.

Investor wealth rise Rs 8.22 lakh crore in four trading sessions on bullish marketFollowing the upbeat sentiment, the market capitalisation of BSE-listed companies have gained Rs 8,22,841.6 crore to Rs 1,87,02,164.65 crore in the four trading sessions.

In four trading sessions, investor wealth jumped Rs 8.22 lakh crore as markets continued their rally with the benchmark indices recording life time peaks on Monday.

The BSE benchmark index Sensex settled 380.21 points higher at its all-time closing high of 47,353.75 on Monday. The index also scaled its fresh record intra-day peak of 47,406.72.

In the previous trade on Thursday, the 30-share index had surged 529.36 points or 1.14 per cent to close at 46,973.54. Equity markets were closed on Friday for Christmas.

In four consecutive trading days of gains, the benchmark index has jumped 1,799.79 points or 3.95 per cent.

Following the upbeat sentiment, the market capitalisation of BSE-listed companies have gained Rs 8,22,841.6 crore to Rs 1,87,02,164.65 crore in the four trading sessions.

“Markets started the week on a buoyant note and posted decent gains led by positive global cues. Optimism over news that the US President has signed the stimulus package triggered healthy buying in the equity markets. Besides, participants also took note of the beginning of the vaccine drive in various parts of the world,” Ajit Mishra, VP (Research) at Religare Broking Ltd said.

US President Donald Trump has signed into law a massive USD 2.3 trillion spending bill that includes a USD 900 billion coronavirus relief package, averting a government shutdown and extending coronavirus aid to millions suffering from the economic impact of the pandemic.

Sumeet Bagadia, Executive Director at Choice Broking said Indian equity market commenced the week on a positive note amid positive global cues. Sentiments were also upbeat after the UK and EU agreed to the historic Brexit trade deal, Bagadia added.

In Monday’s trade, from the Sensex chart, Titan, SBI, L&T, Ultratech Cement, IndusInd Bank and Asian Paints were the biggest gainers, climbing as much as 3.15 per cent.

Among the BSE sectoral indices, realty rose 2.65 per cent, metal (2.25 per cent), consumer durables (2.19 per cent), industrials (1.76 per cent) and banks (1.5 per cent).

In the broader market, the smallcap and midcap indices gained up to 1.49 per cent.

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