Investors' wealth surges by Rs 12.26 trillion in 4 days of market rally

Business Standard

6 days ago

Equity investors became richer by Rs 12.26 trillion as stock markets surged for the fourth day in a row on Friday amid de-escalation in geopolitical tensions and softening crude oil prices in international markets.
On Friday, the BSE benchmark Sensex climbed 303.03 points or 0.36 per cent to reclaim the 84,000 level and settled at 84,058.90. During the day, the Sensex jumped 333.48 points or 0.39 per cent to 84,089.35.
In the past four days, the benchmark has jumped 2,162.11 points or 2.64 per cent.
Tracking optimism in equities, the market capitalisation of BSE-listed firms soared by Rs 12,26,717.72 crore to Rs 4,60,09,217.58 crore ($5.38 trillion) in four trading days.
"Benchmark indices Nifty and Sensex closed on a firm footing in the green on Friday, capping off the week with robust gains. The rally was underpinned by de-escalation in geopolitical tensions post the Israel-Iran ceasefire and growing optimism surrounding a prospective US-India trade pact, which acted as key macro tailwinds. On a weekly basis, both frontline indices logged gains of 2 per cent," according to Bajaj Broking market commentary.
On Friday, as many as 2,251 stocks advanced, while 1,760 declined and 154 remained unchanged on the BSE.
From the Sensex pack, Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Bharat Electronics, Hindustan Unilever and Sun Pharma were among the major gainers.
In contrast, Trent, Eternal, Tech Mahindra, Axis Bank and Titan were among the laggards.
The BSE smallcap gauge climbed 0.54 per cent, and the midcap index went up by 0.38 per cent.
Among BSE sectoral indices, oil & gas jumped 1.21 per cent, services (1.17 per cent), power (1.14 per cent), commodities (1.11 per cent), energy (1.10 per cent), utilities (0.99 per cent) and telecommunication (0.90 per cent).
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