Investors richer by over Rs 5.17 lakh cr in two days of market rally
In contrast, Sun Pharma, PowerGrid, ITC and UltraTech Cement were among the laggards.
Investors have gained over Rs 5.17 lakh crore in two days of equity rally, with the market capitalization of BSE-listed companies surging to an all-time high on Tuesday.
WATCH | Click on Zee Business Live TV Streaming Below:
Rising for the second straight session, the 30-share BSE Sensex jumped 445.56 points or 0.75 percent to close at 59,744.88 on Tuesday. The BSE benchmark had jumped 533.74 points or 0.91 per cent on Monday.
Following the two-day rally, the market capitalization 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 the close of trade on Tuesday.
"Indian equities opened with negative bias but regained its momentum in the second half to edge higher as broad-based buying was seen in the 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 percent, 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
09:32 PM IST