Investors' wealth rises Rs 5.66 lakh crore as equity markets rebound

Equity investors became richer by Rs 5.66 lakh crore as markets bounced back sharply on Tuesday following a recovery in global equities.

The 30-share BSE Sensex jumped 1,276.66 points or 2.25 per cent to settle at 58,065.47 points.

During the day, it zoomed 1,311.13 points or 2.30 per cent to 58,099.94 points.

The market capitalisation of BSE-listed firms climbed Rs 566,318.84 crore to Rs 273,92,739.78 crore.

"On the backdrop of strong global cues, the benchmark indices bounced back sharply," Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd, said.

Among the 30-share Sensex pack, IndusInd Bank, Bajaj Finance, Tata Consultancy Services, Bajaj Finserv, HDFC, Tata Steel, Larsen & Toubro, Wipro, HDFC Bank and Axis Bank were the major winners.

Power Grid, Sun Pharma and Dr Reddy's were the only laggards.

In the broader market, the BSE midcap gauge jumped 2.42 per cent and small-cap index climbed 1.49 per cent.

All the BSE sectoral indices ended in the green, with metals rallying 3.43 per cent, services (3.08 per cent), financial services (2.82 per cent), bankex (2.74 per cent) and IT (2.68 per cent).

Elsewhere in Asia, markets in Seoul and Tokyo ended higher.

Stock exchanges in Europe were trading in the positive territory in mid-session deals.

The US markets ended significantly higher on Monday.

Foreign institutional investors turned net buyers after remaining net sellers in the recent past and bought shares worth Rs 590.58 crore on Monday, according to data available with BSE.

"Markets recovered strongly after Monday's slide and gained over 2 per cent, tracking firm global cues," Ajit Mishra, VP - Research at Religare Broking Ltd, said.