Investors richer by Rs5.35 trn
Total mcap on BSE at Rs262.53 lakh cr
image for illustrative purpose
New Delhi: Equity investors became richer by over Rs5.35 lakh crore in two days of market rally despite largely negative global cues amid concerns over the Omicron strain of the coronavirus. The 776-point rally on Thursday made investors richer by Rs328 lakh crore as total mcap rose to Rs262.57 lakh crore. The mcap on Wednesday rose by Rs2.19 lakh crore.
With the rally in equities, the market capitalisation (mcap) of BSE-listed companies jumped by Rs 5,35,562.58 crore in two days to stand at Rs2,62,52,791.03 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 (research) at Geojit Financial Services.
HDFC was the biggest gainer among the Sensex constituents on Thursday, jumping 3.92 per cent, followed by PowerGrid, Sun Pharma and Tata Steel. ICICI Bank, Axis Bank and UltraTech Cement were the three laggards from the 30-share pack. In the broader market, the BSE midcap and smallcap indices jumped up to 1.12 per cent. "Equity markets opened flat but gained momentum throughout the session, despite weak global cues on account of Omicron concern," said Siddhartha Khemka, head (retail research), Motilal Oswal Financial Services.
