Investors become richer by over Rs 12.56 lakh crore in 7 days of market rally

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Equity investors became richer by over Rs 12.56 lakh crore in seven days of market rally as sentiments remained firm amid continuous foreign fund inflows and stable global trends.

In the past seven days, the BSE benchmark Sensex has jumped 2,544 points or 4.41 per cent.

Helped by the ongoing rally, the market capitalisation of BSE-listed firms jumped Rs 12,56,510.59 crore to Rs 2,64,51,069.93 crore in seven days.

Last week, equity markets were closed on Tuesday (April 4) for "Mahavir Jayanti" and on Friday on account of "Good Friday".

Stock markets were closed on March 30 for "Ram Navami".

The 30-share BSE Sensex climbed 311.21 points or 0.52 per cent to finish at 60,157.72 on Tuesday.

"Strong Asian and European market cues bolstered the ongoing bullish sentiment and lifted the Sensex above the crucial 60,000-mark. Although the rally seems to be stretched, the feel good factors like interest rate status quo by the RBI, robust GST collections and mixed economic growth numbers are giving investors the ammo to bet on domestic stocks," Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd, said.

On Tuesday, from the Sensex firms, Kotak Mahindra Bank, Tata Steel, ITC, ICICI Bank, Bajaj Finserv, Maruti, Mahindra & Mahindra and State Bank of India were the biggest winners.

Tata Consultancy Services, Infosys, HCL Technologies, Tech Mahindra, Asian Paints, Wipro and Tata Motors were the biggest laggards.

In the broader market, the BSE smallcap gauge rose 0.62 per cent and the midcap index advanced 0.40 per cent.

Among sectoral indices, metal rallied 1.87 per cent, utilities jumped 1.73 per cent, bankex (1.64 per cent), financial services (1.03 per cent), power (1.03 per cent) and commodities (1 per cent).

Teck, IT, realty, consumer durables, and capital goods were the laggards.

"Cheerful mood was prevalent on Dalal Street, as markets ended in green for the 7th straight day," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.