New Delhi: Investors have gained over Rs 5.17 lakh crore in two days of equity rally, with the market capitalisation of BSE-listed companies surging to an all-time high Tuesday.
Rising for the second straight session, the 30-share BSE Sensex jumped 445.56 points or 0.75 per cent to close at 59,744.88 Tuesday. The BSE benchmark had jumped 533.74 points or 0.91 per cent Monday.
Following the two-day rally, the market capitalisation of BSE-listed companies jumped by Rs 5,17,836.87 crore to reach its lifetime high of Rs 2,64,78,332.22 crore at close of trade Tuesday.
“Indian equities opened with negative bias but regained its momentum in second half to edge higher as broad based buying was seen in market ahead of September quarter earnings,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
IndusInd Bank emerged as the biggest gainer among the 30-share companies pack, jumping 4.60 per cent, followed by Bharti Airtel, Reliance Industries, HCL Tech and Titan.
In contrast, Sun Pharma, PowerGrid, ITC and UltraTech Cement were among the laggards.
In the broader market, the BSE midcap and smallcap indices climbed up to 0.54 per cent.
“The market remained optimistic ahead of the start of the earnings season even as global cues were not supportive,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
PTI