Investors' Wealth Jumps Over Rs 6.39 Lakh Cr In 3-Day Market Rally

Investors' wealth has jumped by Rs 6,39,437.31 crore in three days of consecutive rally in the equity market.

The 30-share BSE benchmark has gained 1,855.39 points or 3.87 per cent in its three-day rally. On Wednesday, the benchmark zoomed 789.70 points or 1.61 per cent.

Following the rally, the market capitalisation of BSE-listed companies jumped Rs 6,39,437.31 crore to Rs 2,08,76,479.11 crore in three days.

'Markets extended gains for the third consecutive session, in continuation to prevailing buoyancy around the earnings season. Despite caution amongst global peers ahead of the FOMC meet, the benchmark opened gap-up and continues to surge higher.

'The earnings outcome of companies in the banking and auto space (thanks to Axis Bank and TVS motors) led the up move as it further boosted investor's confidence,' Ajit Mishra, VP - Research, Religare Broking Ltd.

Bajaj Finance was the biggest gainer among the 30-frontline companies, gaining 8.32 per cent followed by IndusInd Bank, Bajaj Finserv, ICICI Bank, Kotak Bank, SBI, Bajaj Auto, HDFC Bank and HDFC.

In the broader markets, the BSE midcap and smallcap indices gained up to 0.99 per cent.

Sectorally, BSE bankex, finance, auto, telecom and consumer durables indices rallied as much as 3 per cent, while realty, metal, healthcare and capital goods closed lower. 

(PTI)