Business

When the Market Recovers Positive Territory, Investors Get Richer With Rs 4.11 Lakh Crore -By ASC


Investors profit when the market returns to positive territory today

New Delhi:

Equity investors got richer by over Rs 4.11 lakh crore on Tuesday as the market bounced back towards victory after declining for two consecutive sessions.

The BSE Sensex 30 stock jumped 776.72 points or 1.37 percent to end at 57,356.61 points. Reflecting bullish sentiment, the market capitalization of BSE listed firms jumped Rs 4,11,627.5 crore to Rs 2,69,41,299.15 crore.

M&M was the most profitable among Sensex firms, jumping 4.11 per cent followed by PowerGrid, Titan, IndusInd Bank, Bajaj Finance, Reliance Industries, Larsen & Toubro, SBI, Bharti Airtel and HUL.

Axis Bank, Asian Paints, Maruti and TCS are the four left behind.

In the broader market, the mid -gauge and small -gauge BSE rose up to 1.62 percent.

All BSE sector indices rose, led by power (3.63 per cent), real estate (3.48 per cent), utilities (3.39 per cent), cars (2.80 per cent) and consumer durable goods (2.22 per cent).

“While the market is in an oversold position, the fall in yields in the US market and the drop in crude oil prices came as a major setback for investors who closed part of their short positions.

“However, other concerns such as China’s coronavirus problem, the possible issue of interest rate hikes in the US and the conflict between Russia & Ukraine will continue to be potential market pests,” said Shrikant Chouhan, Head of Equity Research (Retail) at Box Securities Limited.

Agrasmartcity

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