Investors richer by over Rs 4.16 lakh crore in two days of market rally

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Investors' wealth rose by Rs 4,16,413.43 crore in two days, with the market capitalisation of BSE-listed companies reaching a lifetime high of Rs 266.36 lakh crore on Friday.

The 30-share BSE benchmark Sensex on Friday jumped 381.23 points or 0.64 per cent to close at 60,059.06. On Thursday, it had rallied 488.1 points to 59,677.83.

Following the uptrend in equities, the market capitalisation of BSE-listed firms climbed Rs 4,16,413.43 crore in two days to reach Rs 2,66,36,960.48 crore.

The Sensex soared past the 60,000-level on Friday after the Reserve Bank kept the key interest rates unchanged but maintained its accommodative stance to bolster economic recovery.

"Domestic indices traded higher with optimism underpinned by dovish RBI policy and mixed global cues due to US jobs data awaited later in the day," said Vinod Nair, Head of Research at Geojit Financial Services.

The Reserve Bank of India (RBI) expectedly kept interest rates unchanged at a record low but signalled the start of tapering pandemic-era stimulus measures on economic recovery taking root.

Reliance Industries was the biggest gainer in the 30-share Sensex pack, rallying 3.84 per cent, followed by Infosys, Tech Mahindra, HCL Tech, TCS and Tata Steel.

In contrast, HUL, NTPC, Dr Reddy's, Kotak Bank and Maruti Suzuki were among the laggards.

In the broader market, the BSE midcap and smallcap indices climbed up to 0.83 per cent.

This week, the Sensex rallied 1,293.48 points or 2.20 per cent.