Investors gain ₹8.52 lakh crore in two-day market rally
Investors gain ₹8.52 lakh crore in two-day market rally
In an impressive market rally, investors have gained ₹8.52 lakh crore over the past two days. The 30-share BSE Sensex surged nearly 2% on Thursday alone, marking its best single-day performance in over a month.
Key Highlights:
Sensex Performance: On Thursday, the Sensex jumped 1,436.30 points (1.83%) to close at 79,943.71, after soaring to an intraday high of 80,032.87. This followed a 368.40-point gain (0.47%) on Wednesday, bringing the two-day total to 1,804.70 points.
Market Capitalisation: The total market cap of BSE-listed companies increased by ₹8,52,239.27 crore, reaching ₹4,50,47,345.71 crore ($5.25 trillion).
Top Gainers: Bajaj Finserv led the gains with an 8% jump, followed by Bajaj Finance (6.50%), Maruti, Titan, Mahindra & Mahindra, Infosys, HCL Tech, Zomato, UltraTech Cement, and Kotak Mahindra Bank.
Sectoral Performance: All sectoral indices ended in positive territory, with the auto sector surging the most by 3.66%. Other notable sector gains included BSE IT (2.34%), IT (2.31%), consumer discretionary (2.24%), teck (2.19%), consumer durables (2.02%), and commodities (1.41%).
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, noted that despite missing out on a Christmas rally, the New Year has brought strong market optimism. "The Sensex touching the psychological 80,000-mark was driven by broad-based short-covering and gains in banking, IT, auto, and metal sectors," he said. This rally occurred despite concerns over the rupee hitting fresh lows amid rising crude oil prices and subdued growth.
Broader Market Performance:
Midcap and Smallcap Indices: The BSE midcap index rose by 0.89%, while the smallcap index increased by 0.68%.
Stock Advances and Declines: On the BSE, 2,395 stocks advanced, 1,574 declined, and 117 remained unchanged.
Sun Pharma was the only laggard among the 30 Sensex blue-chip firms.
The strong market performance over these two days has significantly boosted investor wealth, providing a positive start to the New Year.
