Investors richer by over Rs 3.48 lakh crore as markets rally for second day
M-cap of BSE-listed companies climbed Rs 3,48,431.23 crore to reach its all-time high of Rs 2,40,23,280.14 crore. (Representative image)
NEW DELHI: Investors’ wealth jumped Rs 3,48,431.23 crore as the market rally continued for the second straight session on Friday, with the BSE sensex closing above the 55,000-mark for the first time.
The 30-share BSE benchmark gained 593.31 points or 1.08 per cent to close at 55,437.29. During the day, it rallied 643.81 points to its intra-day lifetime record of 55,487.79.
On Thursday, the benchmark had closed 318.05 points or 0.58 per cent higher.
Following the two-day rally in equities, the market capitalisation of BSE-listed companies climbed Rs 3,48,431.23 crore to reach its all-time high of Rs 2,40,23,280.14 crore.
“Enthusiastic retail participation has given momentum to the market enabling it to reach higher levels. Also, the rally has global support with the Dow and S&P 500 setting new records.
“A healthy feature of today’s rally is that it is led by high-quality blue-chips in performing sectors like IT, financials and telecom,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services.
TCS was the biggest gainer in the 30-share pack with a jump of 3.22 per cent, followed by L&T, Bharti Airtel, HCL Tech, Tata Steel, Reliance Industries, Bajaj Auto and HDFC Bank.
In contrast, PowerGrid, Dr Reddy’s, IndusInd Bank and Bajaj Finance were among the laggards.
In the broader market, the BSE midcap and smallcap indices closed up to 0.06 per cent lower.
Sectorally, BSE telecom, teck, capital goods and IT indices rose by up to 1.80 per cent, while realty, healthcare and utilities ended in the red.