Investors’ richer by Rs 4.67 lakh crore in five days of market rally

Posted on by KNBT

NEW DELHI: Wealth of investors surged by Rs 4.67 lakh crore in just five trading sessions as the benchmark 30-share Sensex touched record highs amid bullish sentiments. Capping a week of “dream run”, the Sensex closed above the 37,000-mark for the first time on Friday. The index zoomed over 352 points to end the day at 37,336.85.

Spurred by a raft of positive news, including lower GST rate for various items and good earnings, the Sensex recorded whopping gains of 840.48 points, or 2.30 per cent during the five trading sessions starting from July 23.

An analysis of stock market data showed that the total market capitalisation (m-cap) of the BSE-listed companies jumped to Rs 1,51,44,543 crore at the end of trade today.

Last Friday, their valuation stood at Rs 1,46,77,027.84 crore.

In the five days, the market capitalisation surged by Rs 4,67,515.16 crore, the analysis showed. Market valuation is a measure of investor wealth in the stock market.

“Indian indices continued its dream run for the fifth consecutive day in a row for the Sensex. A visible difference was improvement in market breadth and participation coming from a plethora of sectors and market capiatlisation.

“The market highs coinciding with in line or better than earnings season so far is an encouraging factor,” Devang Mehta, Head Equity Advisory at Centrum Wealth Management, said.

In today’s trade from the Sensex basket, 20 stocks ended in the green led by ITC, Tata Motors and Tata Steel.

Sector-wise, the BSE FMCG index gained the most by rising 2.04 per cent, followed by consumer durables at 2.03 per cent and metal at 1.89 per cent.

The BSE midcap index rose by 0.95 per cent and the smallcap by 0.88 per cent.

At the BSE, 1,665 stocks advanced, while 970 declined and 155 remained unchanged.

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