Equity investors richer by over Rs 12.74 lakh crore in 4-day rally

NEW DELHI: The four-day rally in equities made investors richer by over Rs 12.74 lakh crore with the benchmark sensex jumping 5.15 percent to reclaim the 58,000-mark. The 30-share BSE benchmark climbed 545.25 points or 0.95 percent to finish at 58,115.50 on Monday. The benchmark ended above the 58,000-level for the first time since April 13 this year.
In four days, the BSE benchmark has jumped 2,847.01 points or 5.15 percent.
Helped by the ongoing optimism in equities, the market capitalization of BSE-listed firms jumped from Rs 12,74,885.77 crore to Rs 2,70,29,915.21 crore in four days to Monday.
“Strong global cues and optimistic vehicle sales numbers from select frontline automobile companies fueled another round of rally in domestic equities,” said Shrikant Chouhan, head of equity research (retail), Kotak Securities Ltd.
Moreover, the return of foreign institutional investors to the local equity markets has also brought back some amount of cheer among the investors, Chouhan added.
Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 2,320.61 crore on Monday, as per exchange data.
Deepak Jasani, head of retail research, HDFC Securities, said, market rose for the fourth consecutive session aided by positive global cues and foreign inflows.
On Monday, Mahindra & Mahindra topped the sensex gainers’ pack, climbing 6.15 per cent after the company posted a 33 per cent increase in domestic passenger vehicle sales in the previous month.
Reliance Industries, Maruti Suzuki, Kotak Mahindra Bank, Bharti Airtel, NTPC, PowerGrid and UltraTech Cement were among the other gainers.
In the broader market, the BSE midcap gauge jumped 1.51 per cent and the smallcap index climbed 1.47 per cent.
All the BSE sectoral indices ended in the green, with power rallying 3.43 per cent, followed by utilities (3.38 per cent), auto (3.23 per cent), telecom (2.49 per cent), industrials (2.31 per cent) and energy (2.10 per cent).

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