Markets recover, and investor wealth soars by Rs 3 lakh crores to Rs 138 lakh crores
On Wednesday, the markets rejoiced the first time in nearly ten trading sessions.
The Sensex posted a gain of 461.42 points to end at 34760.89. On the 30 scrip sensitive BSE Sensex, 25 scrips advanced, while 5 ended with losses. Axis Bank and SBI led the gainers pack surging up to 6.6%.
With this, the market capitalisation of BSE listed companies zoomed by Rs 3 lakh crores to a level of 138 lakh crores.
By end of trading the market capitalisation of A listed companies was reported at 124.98 lakh crores, while for B listed companies it was 11.24 lakh crores.
The market behaviour in the past week was reported as a bloodbath of sorts, with estimates of a loss of at least Rs 8 lakh crores in the five trading sessions.
Market capitalisation has dipped drastically from a peak of 159.34 lakh crores posted in August (highest in the history of the BSE). By end of September market capitalisation stood at 144 lakh crores.
In the trading session on Wednesday, a solid performance by financial stocks and marginal gain in Rupee were reasoned as factors for an impressive performance.
In the broader market space, the S&P BSE midcap index gained 4.23 per cent and smallcap 3.67 per cent.
Will the markets further make a gain during Thursday's session?