Investor wealth rises by Rs 1.76L-crores
Driven by a robust show by benchmark indices, investor wealth on Monday rose by Rs 1.76 lakh crore.
New Delhi: Driven by a robust show by benchmark indices, investor wealth on Monday rose by Rs 1.76 lakh crore.
Led by the sharp rally in the equity market, the market capitalisation (m-cap) of BSE-listed companies surged Rs 1,76,402.37 crore to Rs 1,56,14,416.92 crore.
"Today auto, FMCG, IT and realty pulled the market to a new all-time high as they are trying to catch up the rally on the back of expected rate cut by RBI and increase in demand from domestic sectors," CapitalAim Head of Research Romesh Tiwari said.
From the 30-share pack, 27 stocks closed with gains led by Hero MotoCorp, Bajaj Auto, IndusInd Bank and Asian Paints.
"Dow Jones closed the previous trading day in red with a 1.4 per cent decline but Indian bourses continued to show strength and opened in green today.
Despite the weak macros and domestic factors, Nifty and Sensex crossed milestone levels and rallied up," Samco Securities Head of Research Umesh Mehta said.