Markets extend pre-election rally, Rs 1.23 lakh crore added to investors' wealth

New Delhi: Markets posted massive rally on Tuesday by ending with over 1 percent gains, adding over Rs 1.23 lakh crore to investors' wealth.

Markets extended the pre-election rally on expectations that the ruling BJP-led government will once again come back to power. Lok Sabha elections will begin on April 11 and continue for over a month till May 19 across seven phases, followed by counting of votes on May 23, the Election Commission announced last Sunday.

Led by the sharp rally in equities, the market capitalisation of BSE-listed companies jumped Rs 1,23,423.96 crore to Rs 1,48,17,004.97 at today's closing. The total market capitalisation of BSE listed companies stood at Rs 1,46,93,581.01 on March 11.

The BSE Sensex jumped 481.56 points or 1.30 percent to close at 37,535.66 while the NSE Nifty closed 133.15 points or 1.19 percent higher at 11,301.20