Investor wealth boosted as Sensex, Nifty log strong gains
The tremendous buying rally in the stock market on Tuesday which made investors rich. Today, not a single top stock closed with a fall on the Sensex and Nifty. Due to this rally, the wealth of investors increased by more than Rs 5.71 lakh crore in one day. At the same time, the market cap of companies listed on BSE has increased by more than 5.79 lakh crores. Today the total market cap of BSE was Rs 28,032,755.91 crore. Talking about the top 10 companies, their total market cap is Rs 7,460,324.47 crore.
On Tuesday, the Sensex saw the biggest single-day gain in more than three months. Amidst a mixed trend at the global level, the market rebounded due to strong buying in the shares of banking, IT and petroleum companies. The 30-share Sensex closed at 59,537.07, up 1,564.45 points, or 2.70 per cent. During trading, it had climbed up to 1,627.16 points at one time. Similarly, the Nifty of the National Stock Exchange also closed at 17,759.30, up 446.40 points or 2.58 percent. Earlier on Monday, the market had fallen 1.4 percent.
What was the reason for the increase?
According to analysts, correction in crude oil prices and a fall in the US dollar in global markets also changed the sentiments of investors. International oil standard Brent crude fell by 2.60 percent to $102.52 per barrel. Earlier, the market fell heavily on the indication of aggressive increase in policy rates by the head of the US central bank Federal Reserve Jerome Powell. On Monday, the Sensex closed 861.25 points, or 1.46 per cent, down at 57,972.62 points, while the Nifty had lost 246 points.
Which stocks showed strength
Among the Sensex shares, Bajaj Finserv gained 5.47 per cent and Bajaj Finance gained 4.86 per cent. Apart from this, shares of IndusInd Bank, Tech Mahindra, ICICI Bank, Kotak Mahindra Bank, Tata Steel and HDFC were also gainers. At the same time, gains in the shares of Reliance Industries, HDFC Bank, Infosys, TCS, HUL, SBI, Axis Bank and ITC also supported the market.
