you are here: HomeNewsIndia
Last Updated : Apr 30, 2020 10:53 PM IST | Source: PTI

Investor wealth jumps Rs 7.68 lakh crore in four days of market rally

During the holiday-shortened week, the Sensex rallied 2,390.40 points or 7.63 percent.

PTI

Investors' wealth jumped Rs 7.68 lakh crore in four days of market rally, with the Sensex ralling 997 points on Thursday. Rising for the fourth straight session, the 30-share BSE Sensex settled 997.46 points, or 3.05 percent, higher at 33,717.62.

During the holiday-shortened week, the Sensex rallied 2,390.40 points or 7.63 percent.

Led by the improved sentiment, the market capitalisation of the BSE-listed companies gained Rs 7,68,168.35 crore to Rs 1,29,41,620.82 crore in four trading days.

Close

"Markets this week rallied from the lows seen in March 2020. After almost a month of lockdown the world over, early signs of easing of the same along with some signs of the flattening of the COVID-19 curve spurred hope of economic activity resuming albeit at a slow pace. Some promise of a possible cure with positive preliminary results of a few drugs also added to hope and optimism," Shibani Sircar Kurian, executive vice-president, fund manager and head (equity research) of Kotak Mahindra Asset Management Company, said.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

ONGC was the top gainer in the Sensex pack, rallying 13.40 percent, followed by HCL Tech, Hero MotoCorp, TCS, Maruti and Infosys.

In the broader market, the BSE Midcap and Smallcap indices rose up to 1.46 percent.

BSE metal index zoomed 8.27 percent, followed by auto, IT, teck and oil and gas.

"The Indian markets had a strong run on the last trading day of the week, buoyed by encouraging drug trials result in the US to treat COVID-19," Religare Broking Ltd Vice-President (Research) Ajit Mishra said.

On the BSE, 1,342 companies advanced and 1,093 declined, while 171 remained unchanged.
First Published on Apr 30, 2020 07:25 pm
Sections