Investors' wealth jumps over Rs 10.83 trn in three days amid market rally

Equity investors have become richer by over Rs 10.83 lakh crore as stocks extended their rising streak for the third consecutive session on Thursday.

The 30-share BSE benchmark Sensex soared 817.06 points or 1.50 per cent to close at 55,464.39.

In three days, the benchmark has gained 2,621.64 points.

Tracking the ongoing rally in equities, the market capitalisation of BSE-listed companies jumped by Rs 10,83,103.27 crore in three sessions to stand at Rs 2,51,93,934.31 crore.

"Markets today were driven majorly by election results across various states. Today post markets Russia-Ukraine are to hold talks which will have major effect on markets tomorrow," said Rahul Sharma from Equity 99.

From the 30-share Sensex pack, Hindustan Unilever Limited, Tata Steel, SBI, IndusInd Bank, Axis Bank, Bajaj Finserv, Nestle and Maruti Suzuki India were the biggest gainers on Thursday, jumping up to 5.17 per cent.

In contrast, Tech Mahindra, Dr Reddy's Laboratories and Tata Consultancy Services were the laggards.

"Indian bourses started off with huge gains amid a volatile trading session as participants had their eyes on state election results. The trend... (shows) BJP as clear winners in 4 out of 5 state elections. All the sectoral indices ended in the green," said Harsh Parekh, Technical Analyst, Bonanza Portfolio.

In the broader market, the BSE smallcap and midcap indices jumped up to 1.18 per cent.

All BSE sectoral indices settled in the green, with FMCG, realty, metal and bank emerging as the lead gainers.

Meanwhile, international oil benchmark Brent crude jumped 5.11 per cent to USD 116.8 a barrel.

"Markets inched higher for the third successive session and gained over 1.5 per cent, tracking favourable cues. Positive global sentiment led to the gap-up opening in the benchmark.

"As the day progressed, sentiments were boosted as the state elections outcome so far indicated a clear majority to the BJP in 4 states out of 5, showing political stability," according to Ajit Mishra, VP - Research, Religare Broking Ltd.