Sunday 23 January 2022
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Investors richer by over Rs 5.35 lakh crore in 2 days

HDFC was the biggest gainer among Sensex constituents today, as the stock jumped 3.92%; investors of PowerGrid, Sun Pharma and Tata Steel did well too

Equity investors became richer by over Rs 5.35 lakh crore in two days of market rally despite largely negative global cues amid concerns over the strain of the coronavirus.

Sensex and Nifty opened flat today amid mixed global cues over fears. The markets, however, picked up pace after the first hour. Sensex was trading above the 58,400-mark throughout the day, while Nifty hovered around 17,300. HDFC twins, and Infosys gave momentum to the Sensex. Among Nifty sectoral indices, IT, Metal, Auto and oil-and-gas led the way.

The 30-share BSE benchmark Sensex jumped 776.50 points or 1.35% to close at 58,461.29 on Thursday.

In the previous trade, the index had rallied 619.92 points or 1.09% to close at 57,684.79.

With the rally in equities, the market capitalisation of BSE-listed companies jumped by Rs 5,35,562.58 crore in two days to stand at Rs 2,62,52,791.03 crore.

The 30-share BSE benchmark Sensex jumped 776.50 points or 1.35% to close at 58,461.29 today.

In the previous trade, the index had rallied 619.92 points or 1.09% to close at 57,684.79.

With the rally in equities, the market capitalisation of BSE-listed companies jumped by Rs 5,35,562.58 crore in two days to stand at Rs 2,62,52,791.03 crore.

“Irrespective of the weak sentiments in the international markets, domestic indices continued to rise due to gains in IT, financials and metal stocks amid strong domestic macroeconomic data,” said Vinod Nair, Head of Research at Geojit Financial Services.

Investors in HDFC were the biggest gainers among those who put their money into the Sensex constituents today, as the stock jumped 3.92%. Investors in PowerGrid, Sun Pharma and Tata Steel did well too.

ICICI Bank, Axis Bank and UltraTech Cement were the three laggards from the 30-share pack.

In the broader market, investors made money as the BSE midcap and smallcap indices jumped up to 1.12%. “Equity markets opened flat but gained momentum throughout the session, despite weak global cues on account of concern,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

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