Investors’ wealth jumped by over ₹ 7.2 lakh crore on Wednesday, in line with a surge in equity benchmarks for the second straight session, after four days of steep declines previously.
The 30-share BSE Sensex zoomed 1,223 points or 2.29 per cent to settle at 54,647, while the broader NSE Nifty moved 332 points or 2.07 per cent higher to close at 16,345.
The overall market breadth stood positive as 2,655 shares advanced while 686 declined on the BSE. Fourteen of the 15 sector gauges — compiled by the National Stock Exchange — settled in green.
The rally in domestic bourses pushed the market capitalisation of the BSE-listed companies to jump by Rs 7,21,949.74 crore to Rs 2,48,32,780.78 crore in just two days. That includes a jump in investors’ wealth to over ₹ 2.51 lakh crores on Tuesday.
Markets had faced four sessions of heavy declines from February 28 to March 7.
“Markets extended Tuesday’s rebound and gained over 2 per cent, tracking recovery in global indices. After a flat start, the benchmark inched gradually higher as the day progressed and settled closer to the day’s high. Heavyweights like Reliance, HDFC Bank and Infy contributed half of the index gains,” Ajit Mishra, Vice President for Research at Religare Broking Ltd, told PTI.
The recent rebound is in line with the global counterparts and it would be too early to call it a reversal, Mr Mishra added.