Investor become richer by Rs 7.46 lakh crore as stocks make sharp recovery

On a weekly basis, both the Sensex and Nifty surged 5 percent.

New Delhi: Investor wealth soared Rs 7.46 lakh crore on Friday following a sharp rebound in the broader market.

On Friday the BSE benchmark Sensex Friday regained the psychological 35,000 level. Sensex rallied 579.68 points to end at 35,011.65 while the Nifty climbed 172.55 points to 10,553.

On a weekly basis, both the Sensex and Nifty halted their two-week losing streak by surging 1,662.34 points or 5 percent, and 523 points or 5 percent, respectively.

On BSE, 1612 stocks advanced and 1061 declined, while 135 remained unchanged.

Led by the improved sentiment, the market capitalisation (m-cap) of BSE-listed companies surged Rs 7,46,724.71 crore to Rs 1,40,78,702.09 crore as against last Friday's m-cap of Rs 1,33,31,977.38.

Major gainers were Maruti, Tata Motors, Vedanta, Indusind Bank, Adani Ports, M&M, Heromoto Corp, HDFC, Bharti Airtel, Tata Steel, Yes Bank and Asian Paint, rising by upto 6.37 perecnt

Among sectoral indices, Auto gained the most by rising 4.05 percent, metal (3.04 percent), Oil and gas (2.46 percent), consumer durable (1.85 percent), infrastructure (1.42 percent) and bankex (1.42 percent), capital goods (1.30 percent), PSU (1.07 percent), power (1.79 percent) and realty (0.12 percent).

Meanwhile, the Indian rupee Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar on easing crude oil prices and possibility that the US might grant waivers to India from sanctions on Iranian oil imports.

Foreign institutional investors (FIIs), which had been selling on the Indian bourses, made fresh purchases worth Rs 348.75 crore Thursday, while domestic institutional investors (DIIs) sold shares to the tune of Rs 509.17 crore, provisional data showed.

With Agency Inputs