Investor wealth surges Rs 1.54 lakh crore in bullish market
Investor wealth surged by Rs 1.54 lakh crore Monday, driven by a strong rally in stock market where the BSE Sensex jumped 500 points supported by positive global cues after a solid US jobs data.
Mumbai: Investor wealth surged by Rs 1.54 lakh crore Monday, driven by a strong rally in stock market where the BSE Sensex jumped 500 points supported by positive global cues after a solid US jobs data.
The 30-share index surged 499.79 points or 1.84 percent to settle at 27,626.69 -- its 11-month high level.
Today's closing was the highest since August 19 last year when it ended at 27,931.64.
Consequently, the market capitalisation of BSE-listed companies rose by Rs 1,54,257.55 crore to Rs 1,05,38,942 crore.
"Positive US jobs data and expectations of a good start to the first quarter earnings season helped the market to rally," Geojit BNP Paribas Financial Services, Head of Research, Vinod Nair said.
From the 30-share Sensex pack, 29 scrips ended higher while only Axis Bank lost.
Adani Ports was the top gainer, rising 4.78 percent followed by Tata Motors, which went up by 4.15 percent.
Among BSE sectoral indices, metal rose the most by 2.46 percent followed by auto 2.19 percent, banking 2.07 percent, PSU 2.06 percent and realty 2.05 percent.
On BSE, 1,718 stocks advanced while 1,040 declined and 186 remained unchanged.
Meanwhile, FPIs bought net shares worth Rs 330.62 crore on Friday, as per provisional data from stock exchanges.