New Year rally adds Rs 1.5 lakh cr to investor wealth
Coming as a relief for investors after huge losses suffered during 2011, the stock market barometer Sensex today posted a 421-point rally, helped by strong gains in blue-chips like ICICI Bank, Reliance Industries and Infosys.business Updated: Jan 03, 2012 18:34 IST
The New Year celebrations came a bit late on Dalal Street, as a strong rally in the stock market on Tuesday added more than Rs 1.5 lakh crore to investor wealth.
Coming as a relief for investors after huge losses suffered during 2011, the stock market barometer Sensex today posted a 421-point rally, helped by strong gains in blue-chips like ICICI Bank, Reliance Industries and Infosys.
The upsurge was noticed across all segments and sectors and all the indices closed in the positive territory with gains ranging from 1-5%.
In the process, the total investor wealth, measured in terms of cumulative value of all listed stocks, grew by Rs 1,52,067 crore today to Rs 5,503,947.6 crore, as per the BSE data.
Including the gains of about Rs 3,000 crore in yesterday's trade, the first trading session of 2012, the investors' wealth has grown by about Rs 1.55 lakh crore in just two trading sessions of the new year.
The market had suffered huge losses in 2011, when the Sensex fell by about 25% or more than 5,000 points, while the investors wealth declined by about Rs 19.46 lakh crore.
A number of large blue-chip companies, including the likes of Reliance Industries and ICICI Bank, had suffered heavy losses in their market valuations last year.
However, almost all the market leaders today posted smart gains and M&M and Hero Motocorp were the only two Sensex stocks to close in the red.
DLF and Tata Steel gained more than 6 % each, while gains were over 5 % in shares of Jindal Steel, Tata Motors, Tata Power and L&T. Besides, BHEL, Coal India, SBI, Wipro, Sterlite Industries and ICICI Bank rose by over 4% each.
Stocks like Bharti Airtel, JP Associates, Hindalco, HDFC Bank, RIL, Infosys, HDFC and Cipla gained over 2%.
At the end of today's trade, RIL was the country's most valued company (Rs 236,972.10 crore), closely followed by TCS at second position (Rs 234,220.64).
State-run firms ONGC and Coal India were ranked third and fourth, respectively, followed by Infosys, ITC, Bharti Airtel, NTPC, SBI and HDFC Bank in the top-ten.