New Delhi:
Equity investor assets rose by more than Rs 10.19 lakh crore in the three-day market rally until Monday.
On Monday, the 30-share BSE Sensex rose 1,041.08 points or 1.90 percent to settle at 55,925.74. In three days, the benchmark has increased 2,176.48 points or 4 percent.
Aided by a jump in shares, the market capitalization of BSE-listed companies soared by Rs 10,19,936.84 crore to Rs 2,58.47,092.40 crore in three days.
“Indian markets witnessed a smart rally driven by positive global signals and the early arrival of the monsoon that gave hope for a slowdown in inflation. On the global front, European and Asian markets rose after the US markets rally last Friday,” said Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd.
Of the Sensex shares, Titan rose 4.94 percent, followed by Mahindra & Mahindra who rose 4.69 percent, Infosys at 4.57 percent, L&T at 3.77 percent, Tech Mahindra at 3.59 percent, HCL Technologies at 3.57 percent, TCS at 3.47 percent and Reliance Industries at 3.44 percent.
In the broader market, the BSE mid-cap index rose by 2.28 percent and the small-cap index by 2.23 percent.
All sectoral BSE indices finished higher, with consumer durables rising 4.41 percent, followed by real estate (3.96 percent), information technology (3.75 percent), consumer discretionary goods and services (2.85 percent) and energy (2.72 percent).
“A short-term trend reversal is visible in the domestic market, supported by valuation comfort and positive trend in global counterparts. US equities were boosted by easing inflation concerns, which will be a crucial factor in setting the tone for the coming year. Fed policy meeting.
“The easing of the prolonged lockdown in China has also helped boost sentiment in Asian markets,” said Vinod Nair, head of research at Geojit Financial Services.
(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)