Investors thriving over Rs 5 lakh crore due to market boom
A sharp jump in equity markets made investors rich by over Rs 5 lakh crore on Friday, with the BSE benchmark Sensex rising 1,534 points after a rough day in the previous trade.
Making a strong comeback after heavy selling in the previous session, the 30-share BSE Sensex ended up 1,534.16 points, or 2.91 per cent, at 54,326.39.
Rise in equity The market capitalization of BSE-listed companies rose by Rs 5,05,143.44 crore to Rs 2,54,11,537.52 crore.
Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities Ltd. said, “Markets took a complete U-turn from Thursday’s bearish as the recent crash and recovery in other Asian indices followed by bargain hunting strengthened the sentiment. “
The BSE benchmark was down 1,416.30 points or 2.61 per cent at 52,792.23 on Thursday.
All Sensex firms ended in the green along with Dr Reddy’s, Reliance Industries, Nestle, Tata Steel, Larsen & Toubro, Axis Bank, Sun Pharma, IndusInd Bank, State Bank of India and HDFC.
Ajit Mishra, VP-Research, Religare Broking Ltd. said, “Markets rebounded sharply and continued with the prevailing volatile trend, rising nearly 3 per cent. saw.” ,
In the broader market, the BSE Smallcap gauge rose 2.13 per cent and the Midcap index rose 1.98 per cent.
2,497 shares rose, 777 declined and 144 remained unchanged.
Vinod Nair, head of the market, said, “The market displayed a confident but calm rally throughout the day, supported by strong global markets, particularly the Asian market. The Chinese central bank lowered a key interest rate to support growth. cut, which infuses optimism in emerging markets.” Research at Geojit Financial Services.
All sectoral indices on the BSE jumped 4.22 per cent, followed by metals (3.75 per cent), capital goods (3.14 per cent), industry (3.05 per cent), and healthcare (3.04 per cent) and energy (2.97 per cent). Percent).