Equity Investors Richer By Over Rs 6.30 Lakh Crore In Three Days

Investors have become richer by over Rs 6.30 lakh crore in three days of the market rally, with the BSE benchmark Sensex climbing over 1,300 points during this time.

The Sensex jumped 303.38 points or 0.56 per cent to settle at 54,481.84 on Friday. It has advanced 1,347.49 points or 2.53 per cent in the last three sessions.

In tandem with the positive momentum in equities, the market capitalisation of BSE-listed firms climbed Rs 6,30,479.15 crore in three days to reach Rs 2,51,59,998.80 crore.

"The Indian rally got stronger as crude prices corrected, halving FIIs selling when compared to last week. However, this rally can fizzle out as correction in commodities prices and tightening monetary policy are negative for the global economy, limiting earnings growth and valuation expansion," said Vinod Nair, Head of Research at Geojit Financial Services.

On Friday, Larsen & Toubro emerged as the biggest gainer in the Sensex pack, jumping 4.72 per cent, followed by PowerGrid, NTPC, ICICI Bank, Axis Bank, Dr Reddy's, Bharti Airtel and Nestle India.

In contrast, Tata Steel, IndusInd Bank, Maruti Suzuki, TCS, HCL Technologies, Wipro and Asian Paints were among the laggards.

In the broader market, the BSE smallcap gauge went higher by 0.28 per cent and the midcap index climbed 0.20 per cent.

Among BSE sectoral indices, capital goods jumped 2.23 per cent, followed by power (1.71 per cent), utilities (1.58 per cent), industrials (1.51 per cent), banks (0.66 per cent) and FMCG (0.54 per cent).

Metal, basic materials and telecom were the laggards.