Investors become richer by ₹13.22 lakh crore as markets bounce back after rout


All the 30 Sensex companies ended in the green, with IndusInd Bank jumping nearly 8%. Tata Steel, Mahindra & Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, HDFC Bank, Hindustan Unilever and JSW Steel also emerged big gainers.

All the 30 Sensex companies ended in the green, with IndusInd Bank jumping nearly 8%. Tata Steel, Mahindra & Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, HDFC Bank, Hindustan Unilever and JSW Steel also emerged big gainers.
| Photo Credit: Reuters

A day after facing massive erosion from their wealth, equity investors became richer by ₹13.22 lakh crore on June 5 with markets making a strong comeback. The 30-share BSE Sensex jumped 2,303.19 points or 3.20% to settle at 74,382.24. During the day, it rallied 2,455.77 points or 3.40% to 74,534.82.

In line with optimism returning at the Dalal Street, the market capitalisation of BSE-listed companies jumped ₹13,22,847.05 crore to ₹4,08,06,552.32 crore ($4.89 trillion) on June 5.

“Indian market exhibited a spirited recovery driven by broad based buying across various sectors, as political stability appears assured. However, attention will remain on the formation of the government and the forthcoming RBI policy meeting,” said Vinod Nair, Head of Research, Geojit Financial Services.

All the 30 Sensex companies ended in the green, with IndusInd Bank jumping nearly 8%. Tata Steel, Mahindra & Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, HDFC Bank, Hindustan Unilever and JSW Steel also emerged big gainers.

Tuesday’s big laggards NTPC, State Bank of India, Larsen & Toubro and Power Grid also ended in the green. In the broader market, the BSE midcap gauge jumped 4.41% and small-cap index rallied 2.93%.

All the indices ended in the green, with telecommunication soaring 6.01%, services jumping 5.74%, metal (5.36%), auto (4.50%), commodities (4.48%), and consumer discretionary (4.29%). As many as 2,597 stocks advanced while 1,221 declined and 100 remained unchanged.

“Over the next few days, there could be a lot of action around NDA staking the claim to form the government, and thereafter a lot of noise could be around key Portfolio/Ministry allocation which will keep the equity markets volatile,” Rupen Rajguru, Head Equity Investments and Strategy, Julius Baer India, said.

In line with weak trend in equities on June 4, the market capitalisation of BSE-listed companies had eroded ₹31,07,806.27 crore to ₹3,94,83,705.27 crore ($4.73 trillion).

The 30-share BSE benchmark cracked 4,389.73 points or 5.74% to settle at 72,079.05 on Tuesday. During the day, the benchmark tanked 6,234.35 points or 8.15%, to hit a nearly five-month low of 70,234.43.

Leave a Reply

Your email address will not be published. Required fields are marked *