Investor wealth has risen by a whopping Rs 70,144 crore (Rs 701.44 billion) in five trading days since the Budget was announced on February 28.
The aggregate market capitalisation of the Bombay Stock Exchange shot up to an all-time high of Rs 17,65,098 crore (Rs 17650.98 billion) on March 4, 2005, from Rs 16,94,953 crore (Rs 16949.53 billion) on February 25.
Most of the benchmark indices including the BSE Sensex, the S&P CNX Nifty, the BSE-500 and the NSE Midcap index hit all-time highs on almost every day after the Budget.
One in ten stocks traded on the BSE soared to their lifetime highs in the five trading days from the presentation of the Union budget. The number of stocks frozen at their upper level of the circuit filter has also increased substantially after the Budget.
From 170 stocks on March 1, the number of stocks at the upper limit rose to 246 on March 2, over 400 on March 3 and 374 on March 4.
The gainers and losers ratio was 2:1. Among the Sensex stocks, only HPCL was a loser, declining 1.6 per cent after the Budget.
ICICI Bank topped the gainers in the 30 stocks that comprise the BSE Sensex. It has gained 8.2 per cent in the last five trading days.
Hero Honda (up 7.6 per cent) Bajaj Auto (up 7.4 per cent), Bharti Tele-Ventures (up 7.3 per cent) and Wipro (up 6.9 per cent) were the other major gainers.
The banks were major movers after the budget. Their shareholder value rose by Rs 11,143 crore (Rs 111.43 billion).
The information technology sector was the next big gainer, increasing shareholder value by 7,779 crore (Rs 77.79 billion). It was followed by refineries {Rs 7,446 crore (Rs 74.46 billion)}, diversified {Rs 5,602 crore (Rs 56.02 billion) and telecom, Rs 3,515 crore (Rs 35.15 billion)}.
