scorecardresearchMarket Rise: Investors richer by over ₹9 lakh crore in three days

Market Rise: Investors richer by over 9 lakh crore in three days

Updated: 30 Jul 2022, 08:28 AM IST
TL;DR.
The 30-share BSE benchmark Sensex jumped 712.46 points or 1.25 per cent to settle at 57,570.25 on Friday.
Mumbai: A man watches the Sensex updates on a screen outside Bombay Stock Exchange as the market goes up 900 points, in Mumbai, Tuesday, May 17, 2022. (PTI Photo/Shashank Parade)(PTI05_17_2022_000053A)

Mumbai: A man watches the Sensex updates on a screen outside Bombay Stock Exchange as the market goes up 900 points, in Mumbai, Tuesday, May 17, 2022. (PTI Photo/Shashank Parade)(PTI05_17_2022_000053A)

(PTI) Investors' wealth grew by over 9 lakh crore in three days of sharp rally in the equity market.

The 30-share BSE benchmark Sensex jumped 712.46 points or 1.25 per cent to settle at 57,570.25 on Friday.

In three days, the benchmark has climbed 2,301.76 points or 4.16 per cent.

The three-day buoyant trend in equities have added 9,03,574.58 crore to the market capitalisation of BSE-listed firms which now stands at 2,66,58,604.02 crore.

"Domestic equities continued its northward journey for the third consecutive day on the back of healthy corporate earnings and positive global cues," Siddhartha Khemka, Head - Retail Research of Motilal Oswal Financial Services Ltd, said.

Softening commodity prices, reduced intensity of Foreign Institutional Investors (FIIs) selling and better-than-expected earnings season have led to the recovery in the markets, analysts said.

"Markets traded robust for yet another session and gained over a per cent," Ajit Mishra, VP - Research at Religare Broking Ltd, said on Friday.

In the broader market, the BSE smallcap gauge jumped 1.38 per cent and midcap index climbed 1.01 per cent on Friday.

Among Sensex constituents, Tata Steel, Sun Pharma, Bajaj Finserv, IndusInd Bank, Infosys, Asian Paints, Reliance Industries and Bajaj Finance were the biggest gainers.

Dr Reddy's, Kotak Mahindra Bank, State Bank of India, ITC and Axis Bank were the laggards.

All the BSE sectoral indices ended in the green, with metal climbing the most by 4.59 per cent, followed by energy (2.41 per cent), basic materials (2.30 per cent), oil & gas (2.21 per cent), IT (1.71 per cent), teck (1.68 per cent) and consumer durables (1.47 per cent).

First Published: 30 Jul 2022, 08:28 AM IST