Investors' wealth jumps Rs 2.93 lakh cr as markets rally

Investors' wealth jumped Rs 2,93,054.25 crore on Thursday as markets returned to winning ways after falling for three straight sessions.

The 30-share BSE benchmark Sensex zoomed 638.70 points or 1.22 per cent to close at 52,837.21. During the day, it gained 668.75 points to 52,867.26.

Tracking the bullish trend, the market capitalisation of BSE-listed companies jumped Rs 2,93,054.25 crore to reach Rs 2,33,94,917.25 crore.

"Buying returned in the Indian markets supported by the decent Q1 FY22 earning results and positive global sentiments," said Mohit Nigam, head, PMS - Hem Securities.

Tech Mahindra was the biggest gainer in the 30-share pack, with a gain of 5.65 per cent, followed by Bajaj Finance, Bharti Airtel, Bajaj Finserv, Tata Steel and L&T.

HUL was the biggest laggard, falling 2.27 per cent, followed by Asian Paints, Bajaj Auto and Mahindra & Mahindra.

In the broader market, the BSE midcap and smallcap indices rose by up to 1.52 per cent.

BSE metal, telecom, capital goods and industrials indices were the biggest gainers, gaining up to 3.02 per cent, while FMCG closed lower.

"Markets recovered strongly and gained over a percent, after trading subdued for the last three consecutive sessions.

"Upbeat global markets triggered a gap up start which strengthened further as the day progressed," Ajit Mishra, VP - research, Religare Broking Ltd said.