Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

Investors' wealth rises by Rs 2.4 lakh crore in morning deals as markets continue to scale new peaks

Analysts said foreign institutional investors have reversed their selling strategy and have been consistent buyers during the last seven days. This momentum is a reflection of institutional confidence in the Indian market, they said.

Investors' wealth rises by Rs 2.4 lakh crore in morning deals as markets continue to scale new peaks

Tuesday December 05, 2023 , 2 min Read

Equity investors became richer by Rs 2.4 lakh crore as key benchmark indices Sensex and Nifty scaled new peaks in morning trade on Tuesday, amid persistent foreign fund inflows.

Analysts said foreign institutional investors have reversed their selling strategy and have been consistent buyers during the last seven days. This momentum is a reflection of institutional confidence in the Indian market, they said.

The 30-share BSE Sensex jumped 169.94 points, or 0.25%, to a new peak of 69,035.06 in early trade. The broader index Nifty also climbed 52.60 points, or 0.25%, to hit its all-time high of 20,739.40.

Following the rally, the market capitalisation of BSE-listed firms jumped by Rs 2.4 lakh crore to Rs 345.88 lakh crore in morning deals on Tuesday, from Rs 343.48 lakh crore on Monday.

Among the Sensex firms, Adani Enterprises and Adani Ports sustained their gaining momentum and traded higher by 4.40% and 4.37%, respectively. BPCL, Axis Bank, Mahindra & Mahindra and SBI were the other major gainers.

As many as 20 stocks of the 30-share benchmark were trading in the positive territory. Among Nifty stocks, 29 shares registered gains.

In six trading sessions, investors' wealth has gone up by Rs 17.16 lakh crore.

In the broader market, the BSE midcap gauge jumped 0.54% and smallcap index climbed 0.50%.

The combined market valuation of all listed companies on the BSE reached the $4 trillion milestone for the first time on November 29.

The market capitalisation of listed companies on the NSE has surpassed the $4 trillion (Rs 334.72 trillion) mark for the first time ever on Friday.

According to Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, Indian equities celebrated BJP's sweeping victory in the three states by rallying more than 400 points to hit fresh highs.

"The outcome was overwhelmingly in favour of the incumbent BJP, strong macroeconomic data and easing global interest rate expectations boosted the market momentum. Nifty has rallied by 1,865 points or 10 per cent from its low of 18,837 made on October 23.

"We expect market sentiment to strengthen further as the ongoing pre-election rally is quite strong now. Given the government's focus approach towards long-term capex across key areas, we expect BFSI, Industrials, Real Estate, Auto and Consumer Discretionary to do well going forward," Khemka added.