Investors’ wealth jump over Rs 9.57 lakh crore in 3 days amid budget-led euphoria – Times of India
NEW DELHI: Investors’ wealth has jumped Rs 9,57,201.52 crore in the last three days of rally in equity market as stocks continued to march higher amid the budget-led euphoria.
The 30-share BSE benchmark on Wednesday zoomed 695.76 points or 1.18 per cent to settle at 59,558.33 as the post-Budget rally continued.
This is the third day of rally in equities and helped by the optimism, the market capitalisation of BSE-listed companies jumped Rs 9,57,201.52 crore to Rs 2,70,64,905.75 crore in three days.
In three trading sessions, the BSE benchmark zoomed 2,358.1 points.
“Indian equity markets are continuing their northward journey following a good gain on the Budget day,” said Parth Nyati, Founder, Tradingo.
IndusInd Bank was the biggest gainer among the 30-share BSE benchmark frontline companies pack, jumping 5.57 per cent, followed by Bajaj Finserv, HCL Tech and Bajaj Finance.
In the broader market, the BSE midcap and smallcap jumped up to 1.54 per cent.
“There were no negative factors to spoil the upward journey for the third straight session. Buying continued on the back of strong global cues and the Budget also proposed measures that are growth oriented which kept investors in good stead right through the session,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said.
Ajit Mishra, VP – Research, Religare Broking Ltd, said, “Markets are currently riding high on the back of optimism post the Union Budget. Besides, global recovery and favourable earnings are also adding to the positivity.”
The 30-share BSE benchmark on Wednesday zoomed 695.76 points or 1.18 per cent to settle at 59,558.33 as the post-Budget rally continued.
This is the third day of rally in equities and helped by the optimism, the market capitalisation of BSE-listed companies jumped Rs 9,57,201.52 crore to Rs 2,70,64,905.75 crore in three days.
In three trading sessions, the BSE benchmark zoomed 2,358.1 points.
“Indian equity markets are continuing their northward journey following a good gain on the Budget day,” said Parth Nyati, Founder, Tradingo.
IndusInd Bank was the biggest gainer among the 30-share BSE benchmark frontline companies pack, jumping 5.57 per cent, followed by Bajaj Finserv, HCL Tech and Bajaj Finance.
In the broader market, the BSE midcap and smallcap jumped up to 1.54 per cent.
“There were no negative factors to spoil the upward journey for the third straight session. Buying continued on the back of strong global cues and the Budget also proposed measures that are growth oriented which kept investors in good stead right through the session,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said.
Ajit Mishra, VP – Research, Religare Broking Ltd, said, “Markets are currently riding high on the back of optimism post the Union Budget. Besides, global recovery and favourable earnings are also adding to the positivity.”
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