Markets rally makes investors richer by Rs 2.27 lakh crore

Investors' wealth climbed Rs 2.27 lakh crore on Wednesday as the benchmark Sensex closed above the 75,000 mark for the first time.

The 30-share BSE benchmark Sensex climbed 354.45 points or 0.47 per cent to settle at 75,038.15. During the day, it advanced 421.44 points or 0.56 per cent to 75,105.14.

In the previous trade on Tuesday, the benchmark hit its all-time intra-day peak of 75,124.28.

The market capitalisation of BSE-listed firms climbed Rs 2,27,024.52 crore to reach its all-time high of Rs 4,02,19,353.07 crore (USD 4.83 trillion).

The market valuation of BSE-listed companies has gone past the coveted Rs 400 lakh crore mark for the first time on Monday.

"Even as FII investment in local equities has been volatile over the past few months, domestic flows have been strong which has been a key catalyst behind markets touching record highs.

"Backed by strong growth prospects going ahead and poll fever steadily gripping up, investors are maintaining their bullish stance resulting in the Sensex closing above the 75k mark for the first time, while the Nifty scaling fresh intra-day high," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Among the Sensex firms, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and JSW Steel were the major gainers.

Maruti, HDFC Bank, Mahindra & Mahindra and Larsen & Toubro were among the laggards.

In the broader market, the BSE midcap gauge climbed 0.89 per cent and smallcap index advanced 0.46 per cent.

Among the indices, oil & gas jumped 1.74 per cent, energy (1.71 per cent), metal (1.66 per cent), commodities (1.30 per cent) and services (1.15 per cent).
Utilities and auto were the laggards.

As many as 1,961 stocks advanced while 1,869 declined and 103 remained unchanged.