Investor wealth jumps Rs 9.41 lakh cr in 3 days

Investors' wealth has jumped by a massive Rs 9.41 lakh crore during three successive days of gains in the domestic equity market.

The Sensex and the Nifty continued their upward journey for the third straight session on Wednesday, as the BSE benchmark surged nearly 1,148 points to breach the 51,000-level and the NSE benchmark index recaptured the 15,200-mark by rising 326.5 points.

At the closing bell, the 30-share Sensex was up 1,147.76 points or 2.28 per cent at 51,444.65, the biggest single-day rise since February 2.

Intra-day, the index swung 1,243 points.

Likewise, the NSE Nifty climbed 326.50 points or 2.19 per cent to end at 15,245.60.

At the close of trade, the total market capitalisation of the BSE-listed companies increased by Rs 3,69,170.72 crore to Rs 2,10,22,227.15 crore.

Since March 1, the market capitalisation of the BSE-listed companies has zoomed by Rs 9,41,131.42 crore to reach Rs 2,10,22,227.15 crore on Wednesday.

During this time, the Sensex has risen by 2,344.66 points or 4.77 per cent, while the Nifty has added 716.45 points or 4.93 per cent.

Reliance Securities Head (Strategy) Binod Modi said, "Domestic equities extended gain for the third consecutive day as fading concerns of rising bond yields and continued rebound in high frequency key economic indicators in February 21 emboldened investors. Additionally, global markets also remained supportive."

On the BSE, 1,844 companies advanced, while 1,157 declined and 170 remained unchanged.

Photograph: Amit Dave/Reuters