Investors' wealth jump Rs 4.21 lakh crore on market rally

NEW DELHI: Investors' wealth soared by Rs 4.21 lakh crore on Tuesday as markets rebounded amid a rally in IT stocks.

Displaying an optimistic trend, the 30-share BSE Sensex jumped 454.67 points or 0.63 per cent to settle at 72,186.09 points. During the day, it climbed 529.98 points or 0.73 per cent to 72,261.40 points.

The market capitalisation (mcap) of BSE-listed companies went up by Rs 4,21,755.4 crore to reach a lifetime peak of Rs 3,86,83,270.93 crore.

"After a weak start, markets quickly rebounded and maintained optimism till the close as buying gained momentum towards the fag-end in IT, auto, metals and oil & gas stocks," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.

Among the Sensex firms, HCL Technologies, Maruti, Tata Consultancy Services, Wipro, Infosys, Larsen & Toubro, Tata Steel and Bharti Airtel were the major gainers.

Power Grid, IndusInd Bank, ITC, Kotak Mahindra Bank, Axis Bank and Bajaj Finserv were among the laggards.

In the broader market, the BSE smallcap gauge climbed 1.23 per cent and midcap index jumped 1.06 per cent.

Among the indices, oil & gas zoomed 3.02 per cent, IT jumped 2.94 per cent, teck climbed 2.74 per cent, telecommunication went up by 2.17 per cent, energy rose 2.07 per cent, auto gained 1.65 per cent and capital goods increased 1.61 per cent.

Utilities, power and bankex were the laggards.

A total of 2,353 stocks advanced while 1,508 declined and 83 remained unchanged.

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