Investors become richer by Rs 7.32 lakh crore as markets recover after steep slide
Investors’ wealth swelled by Rs 7.32 lakh crore on Tuesday as equity markets staged a strong comeback after crumbling in the previous trade.
Snapping its three-day decline, the 30-share BSE Sensex jumped 1,089.18 points or 1.49 per cent to settle at 74,227.08. During the day, it climbed 1,721.49 points or 2.35 per cent to 74,859.39.
Thanks to the positive trend in equities, the market capitalisation of BSE-listed firms surged Rs 7,32,042.69 crore to Rs 3,96,57,703.44 crore (USD 4.62 trillion).
"Markets opened sharply higher following gains in Asia in the morning after another highly volatile overnight session in the US. After a brutal sell-off, markets are staging a cautious relief rally on hopes for positive news, in terms of concessions, ahead of deadline for reciprocal tariffs. On the domestic front, we saw strong DII (Domestic Institutional Investors) buying cushioning the market fall yesterday," Satish Chandra Aluri, Analyst at Lemonn Markets Desk, said.
On Monday, the market cap of BSE-listed firms declined sharply by Rs 14,09,225.71 crore to Rs 3,89,25,660.75 crore (USD 4.54 trillion) in a single day amid a global market meltdown due to recession fears.
All Sensex firms, except Power Grid, ended in the positive territory. Titan, Bajaj Finance, State Bank of India, Larsen & Toubro, Bajaj Finserv, Axis Bank, Zomato and Asian Paints were the biggest gainers.
World markets also staged a rebound after Monday's collapse.
The BSE smallcap gauge jumped 2.18 per cent and midcap index surged 1.87 per cent.
All BSE sectoral indices ended higher.
