Investor wealth jumps over ₹3 lakh cr as equities rally on proposed HDFC twins merger

In morning trade, a total of 25 Sensex constituents were in the green, with HDFC Ltd and HDFC Bank shares gaining up to nearly 14 per cent.

Investors turned wealthier by more than ₹3 lakh crore in the first hour of trading on Monday as equities rallied on the proposed merger of HDFC Ltd with HDFC Bank.

Sensex skyrocketed 1,472.33 points or a whopping 2.46 per cent to 60,736.08 points at around 10.30 am, driven by HDFC twins. (Reuters)

Reflecting bullish investor sentiments, the 30-share key index Sensex skyrocketed 1,472.33 points or a whopping 2.46 per cent to 60,736.08 points at around 10.30 am, driven by HDFC twins.

The market capitalisation of BSE-listed companies, also an indicator of notional wealth of investors, surged to ₹2,71,36,569.94 crore.

This marks a gain of over ₹3.11 lakh crore compared to the market valuation at the close of trading on the BSE on Friday.

As per the BSE data, as many as 137 stocks touched their 52-week high while 416 scrips reached their upper circuit.

In morning trade, a total of 25 Sensex constituents were in the green, with HDFC Ltd and HDFC Bank shares gaining up to nearly 14 per cent.