Thursday, Dec 08, 2022
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Markets Rally: Investors Richer By Over Rs 8.58 Lakh Crore In 3 Days

Markets Rally: Investors Richer By Over Rs 8.58 Lakh Crore In 3 Days

The 30-share BSE benchmark Sensex jumped 384.72 points or 0.68 per cent to close at 57,315.28 on Thursday. During the day, it gained 559.96 points to 57,490.52.

Investors' wealth has soared by Rs 8,58,979.67 crore in three days of the market rally, with domestic bourses climbing in tandem with global equities amid abating concerns over the economic impact of the Omicron variant.

The 30-share BSE benchmark Sensex jumped 384.72 points or 0.68 per cent to close at 57,315.28 on Thursday. During the day, it gained 559.96 points to 57,490.52.

In three days, the index has gained 1,493.27 points.

The market capitalisation of BSE-listed companies has rallied by Rs 8,58,979.67 crore to stand at Rs 2,61,16,560.72 crore.

In the pharma space, drug retailer MedPlus made a strong debut on the bourses. It got listed at a 31 per cent premium over its issue price of Rs 796 on the NSE. The stock was listed at Rs 1,040, above what the market had expected. The stock closed 41 per cent higher over the issue price on the BSE, a report published in Busines Standard said.

Lastly, in the primary market, the initial public offering of CMS Info Systems picked up pace on the final day and was fully subscribed at 1.95 times. The retail portion was subscribed 2.1 times, while non-institutional investor and qualified buyer portions were subscribed 1.45 and 1.98 times, respectively.

"Domestic bourses continued to trade firm mirroring an upbeat mood in the global markets led by gains in realty, financials and IT stocks, while broader markets strengthened," said Vinod Nair, Head of Research at Geojit Financial Services.

PowerGrid was the biggest gainer among the Sensex constituents on Thursday, gaining 3.40 per cent, followed by ITC, Bajaj Finance, Infosys and NTPC.

"Markets inched further higher and ended in the green for the third successive session, tracking firm global markets. After the initial uptick, the benchmark remained range bound till the end, however movement across sectors kept the participants busy," said Ajit Mishra, VP - Research, Religare Broking Ltd.

In the broader market, the BSE midcap and smallcap indices jumped up to 1.01 per cent.

 

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