Investors’ wealth rises by Rs 5.66 trillion as equity markets rebound | Job Binary

Equity investors gained 5.66 trillion rupees as markets rallied on Tuesday following a recovery in global equities.

The 30-share BSE Sensex rose 1,276.66 points, or 2.25 percent, to 58,065.47. Within a day, it increased by 1,311.13 points or 2.30 percent and reached 58,099.94 points.

The market capitalization of BSE-listed firms increased by Rs 5,66,318.84 to Rs 2,73,92,739.78.

“Benchmark indices retreated sharply amid strong global cues,” said Shrikant Chouhan, head of equity research (retail) at Kotak Securities Ltd.

Among the 30-share Sensex pack, IndusInd Bank, Bajaj Finance, Tata Consultancy Services, Bajaj Finserv, HDFC, Tata Steel, Larsen & Toubro, Wipro, HDFC Bank and Axis Bank were the major gainers.

Power Grid, Sun Pharma and Dr Reddy’s were the only laggards.

In the broader market, the BSE mid-cap index rose 2.42 percent, while the smallcap index rose 1.49 percent.

All BSE sectoral indices ended in the green, with metals up 3.43%, services (3.08%), financial services (2.82%), bankex (2.74%) and IT (2.68%).

Elsewhere in Asia, markets in Seoul and Tokyo ended higher.

European stock markets traded in positive territory in mid-session deals. US markets rose significantly on Monday.

Foreign institutional investors turned into net buyers after recent net sellers and bought shares worth Rs 590.58 crore on Monday, according to data available on BSE.

“Markets recovered strongly after Monday’s decline and rallied over 2 percent tracking global cues,” said Ajit Mishra, vice-president, research, Religare Broking Ltd.

(This story was not edited by Business Standard staff and was generated automatically from the syndicated feed.)

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