Equity investors become richer by Rs 3.43 lakh crore in two days of market rally


PTI, Jun 28, 2023, 5:39 PM IST

Equity investors became richer by Rs 3.43 lakh crore in two days of market rally that saw the BSE benchmark Sensex touching the record 64,000-mark in intra-day trade on Wednesday.

Extending the previous day’s rally, the 30-share Sensex surged 499.39 points or 0.79 per cent to settle at its life time closing high of 63,915.42 points on Wednesday. During the day, the index jumped 634.41 points or 1 per cent to hit its all-time intra-day peak of 64,050.44 points.

In two days, the market capitalisation of BSE-listed firms went up by Rs 3,43,718.15 crore to Rs 2,94,11,131.69 crore.

Earlier, on June 21, the market capitalisation of BSE-listed firms had hit an all-time high of Rs 2,94,36,594.50 crore.

”Domestic equities had a dream run with Nifty and Sensex scaling life time highs. Strong institutional flows, healthy macros, and robust earnings growth drove the domestic market toward new highs,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, said.

All the indices ended in the green on Wednesday, with services rallying 2.35 per cent, capital goods jumping 1.14 per cent, power (1.02 per cent), healthcare (0.90 per cent), oil & gas (0.85 per cent), energy (0.83 per cent), metal (0.80 per cent) and industrials (0.70 per cent).

In the broader market, the BSE midcap gauge climbed 0.73 per cent and smallcap index gained 0.08 per cent.

”Nifty has surged to an unprecedented all-time high, propelled by the solid fundamentals of the Indian economy and the consistent stability in global cues witnessed recently,” Santosh Meena, Head of Research, Swastika Investmart Ltd, said.

Amar Ambani, Group President & Head – Institutional Equities at YES SECURITIES, said that investors are massively turning positive on risk assets, taking comfort from the recent fall in inflation, anticipating the end of the rate hike cycle.

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,024.05 crore on Tuesday, according to exchange data.

In Asian markets, Tokyo and Hong Kong settled in the green while Seoul and Shanghai ended lower. European markets were trading in the positive territory. The US markets ended significantly higher on Tuesday.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Court rejects Prajwal Revanna’s anticipatory bail plea

World’s hottest day record broken in 24 hours

‘Trust deficit between farmers, govt’: SC proposes panel to talk to protesters at Shambhu border

Intention was to kill me, my family members: Salman Khan’s statement in charge sheet

MUDA ‘scam’: BJP to hold “day-and-night” dharna in Karnataka Assembly, Council

Shirur landslide search ops: Missing truck found submerged in Gangavali River

Got raw deal in budget, no point in attending NITI Aayog meeting, says Deputy CM Shivakumar

Related Articles More

Hyundai ties up with Charge Zone for high-speed EV chargers

Stock markets fall for 4th day on selling in banking shares, STT hike

Drastic reduction in capital gains tax rate to benefit most taxpayers: I-T dept

Gold prices crash by Rs 3,350 after govt cuts custom duty on bullion

Air India Express inaugurates its maiden international flight from Bengaluru to Abu Dhabi

MUST WATCH

Brahma Kumaris

Tapta Mudra Dharana

Banana Farming

Aghnashini River

Dr. Rajkumar


Latest Additions

Nita Ambani re-elected unanimously as IOC member

Court rejects Prajwal Revanna’s anticipatory bail plea

World’s hottest day record broken in 24 hours

Heavy rain: Two-day school holiday declared in 6 taluks of Belagavi

Kharge’s ‘mataji’, ‘pakoda-jalebi’ jibe at FM as he raises alleged discrimination against states in Budget

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.