Stock Market: Investors' Wealth Rises By Rs 12.80 Lakh Crore In Five Days

As equity markets closed with the green mark for the fifth consecutive day, investor assets rose to Rs 12.80 lakh crore amid the bullish sentiment backed by confidence in the country's macroeconomic fundamentals and fresh foreign fund inflows.

On Thursday, the index of the top 30-share on BSE 'Sensex' rose at 371.95 points, or 0.52 per cent, and closed at 72,410.38. The index rose 445.91 points during the trade hours to touch a lifetime high of 72,484.34.

In the last five trading sessions, the BSE benchmark gained 1,904.07 points or 2.70 per cent. Meanwhile, the market capitalization of BSE-listed companies rose by Rs 12,80,559.2 crore to reach Rs 3,63,00,558.07 crore.

Markets saw bullish bets on the day of the monthly F&O expiry, indicating that risk-on sentiment is likely to continue to improve on hopes of stronger local macro play in the new year.

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"Decreasing high inflation concerns and early rate cut expectations in the world's largest economy have further bolstered confidence that India's growth momentum will continue, boosting investor confidence," said Prashant Thapse, senior vice-president (research), Mehta Equities Ltd.

Among the Sensex companies, Mahindra & Mahindra, NTPC, Power Grid, Nestlé, Tata Motors, ITC, Bharti Airtel and Kotak Mahindra Bank were the top gainers. In contrast, Larsen & Toubro, Wipro, Ultratech Cement, Tata Consultancy Services and Asian Paints were the laggards.

In Asian markets, Seoul, Shanghai and Hong Kong settled with gains, while Tokyo ended with declines. US markets ended in the green on Wednesday. Global oil benchmark Brent crude was down 0.73 per cent at US$79.07 a barrel.

Foreign institutional investors (FIIs) turned buyers on Wednesday. After continuous offloading Rs. 2,926.05 crore worth of shares were bought, exchange data showed. In the broader market, the BSE midcap gauge gained 0.66 per cent and the smallcap index rose 0.23 per cent.

Among the indices, oil and gas rose 2.45 per cent, power 2.18 per cent, metals (1.60 per cent), FMCG (1.24 per cent), realty (0.97 per cent) and power (0.95 per cent). On the other hand, industry and information technology lag.

(With PTI Inputs)

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