In four trading sessions, investor wealth jumped ₹8.22 lakh crore as markets continued their rally with the benchmark indices recording life time peaks on Monday.
The BSE benchmark index Sensex settled 380.21 points higher at its all-time closing high of 47,353.75 on Monday. The index also scaled its fresh record intra-day peak of 47,406.72.
In the previous trade on Thursday, the 30-share index had surged 529.36 points or 1.14% to close at 46,973.54. Equity markets were closed on Friday for Christmas.
In four consecutive trading days of gains, the benchmark index has jumped 1,799.79 points or 3.95%.
Following the upbeat sentiment, the market capitalisation of BSE-listed companies have gained ₹8,22,841.6 crore to ₹1,87,02,164.65 crore in the four trading sessions.
“Markets started the week on a buoyant note and posted decent gains led by positive global cues. Optimism over news that the US President has signed the stimulus package triggered healthy buying in the equity markets. Besides, participants also took note of the beginning of the vaccine drive in various parts of the world,” Ajit Mishra, VP (Research) at Religare Broking Ltd said.
US President Donald Trump has signed into law a massive $2.3 trillion spending bill that includes a $900 billion coronavirus relief package, averting a government shutdown and extending coronavirus aid to millions suffering from the economic impact of the pandemic.
{{/usCountry}}US President Donald Trump has signed into law a massive $2.3 trillion spending bill that includes a $900 billion coronavirus relief package, averting a government shutdown and extending coronavirus aid to millions suffering from the economic impact of the pandemic.
{{/usCountry}}Sumeet Bagadia, Executive Director at Choice Broking said Indian equity market commenced the week on a positive note amid positive global cues. Sentiments were also upbeat after the UK and EU agreed to the historic Brexit trade deal, Bagadia added.
In Monday’s trade, from the Sensex chart, Titan, SBI, L&T, Ultratech Cement, IndusInd Bank and Asian Paints were the biggest gainers, climbing as muh as 3.15%.
Among the BSE sectoral indices, realty rose 2.65%, metal (2.25%), consumer durables (2.19%), industrials (1.76%) and banks (1.5%).
In the broader market, the smallcap and midcap indices gained up to 1.49%.