Investor wealth soars by Rs 1.6 lakh crore as stocks zoom

Investor wealth Wednesday soared by over Rs 1.62 lakh crore, driven by a rally in the stock market where the BSE benchmark Sensex surged by 438 points, snapping a two-day losing run.

PTI| Updated: Mar 30, 2016, 19:20 PM IST

Mumbai: Investor wealth Wednesday soared by over Rs 1.62 lakh crore, driven by a rally in the stock market where the BSE benchmark Sensex surged by 438 points, snapping a two-day losing run.

Consequently, the market capitalisation of BSE-listed companies surged Rs 1,62,392.75 crore to Rs 94,51,833 crore.

The 30-share index zoomed 438.12 points or 1.76 percent to end at 25,338.58.

The index had lost over 437 points in the last two days.

The 50-share NSE Nifty reclaimed the 7,700-mark by gaining 138.20 points or 1.82 percent to 7,735.20.

"Market has witnessed a positive rebound led by a cautious stance by US Federal Reserve towards future rate hike decision. This helped investors recoup previous day losses and it created optimism about the upcoming RBI monetary policy," said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.

Value-buying at lower level also fuelled buying in stocks.

From the 30-Sensex pack, 26 stocks ended with gains led by Tata Steel and ICICI Bank, while four, HDFC, M&M, Bharti Airtel and Maruti Suzuki, fell.

Sector-wise, BSE realty index gained the most, rising 3.85 percent, followed by bankex (3.13 percent), metal (3.06 percent), capital goods (2.73 percent), power (2.53 percent), PSU (2.33 percent), healthcare (1.99 percent) and oil & gas (1.98 percent).

On BSE, 1,859 stocks advanced, while 773 declined and 147 stocks remained unchanged.