Investors become 2.66-lakh crore richer | business | Hindustan Times
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Investors become 2.66-lakh crore richer

business Updated: Oct 29, 2011 17:00 IST

Defying domestic negative issues, both the key indices, Sensex and Nifty, logged their biggest weekly gains in absolute terms in more than two years during the week under review after European leaders on Thursday reached a plan to resolve debt problems.

The markets were closed for regular trading on October 26, but were open between 1645 hrs and 1800 hrs for special 'Mahurat' trading. They were closed on October 27 for Diwali.

The total investor wealth, measured in terms of cumulative market value of all listed stocks, soared to Rs 62,64,794 crore this week from Rs 59,98,751 crore in last weekend. On Friday alone, a 516-point rally on Sensex made investors richer by Rs 1.5-lakh crore.

The Bombay Stock Exchange 30-share barometer resumed up and traded in positive terrain during the week between 17,908.13 and 16,898.60 before concluding the week at three-month high of 17,804.80, a rise of 1,019.16 points, or 6.07%. The Sensex had shot up by 1,240.70 points, or 9.19%, in the trading week July 13-July 17, 2009.

Similarly, the NSE wide-based Nifty gyrated in a range between 5,399.70 and 5,084.75 before settling the week at three-month high of 5,360.70, exhibiting a surge of 310.75 points, or 6.15%.

Buying was seen across a raft of segments as 12 out of 13 sectoral indices on BSE closed with sharp gains between 9.39% and 2.51% with metal, realty, refinery, IT and power scrips leading the pack. Only BSE-CD ended in the red, declining marginally by 1.08%.