Markets rally: Investors richer by over Rs 8.58 trn in 3 days

Domestic bourses continued to trade firm mirroring an upbeat mood in the global markets led by gains in realty, financials and IT stocks, says an analyst

Investors' wealth has soared by Rs 8,58,979.67 crore in three days of market rally, with domestic bourses climbing in tandem with global equities amid abating concerns over the economic impact of the Omicron variant.

The 30-share BSE benchmark Sensex jumped 384.72 points or 0.68 per cent to close at 57,315.28 on Thursday. During the day, it gained 559.96 points to 57,490.52.

In three days, the index has gained 1,493.27 points.

The market capitalisation of BSE-listed companies has rallied by Rs 8,58,979.67 crore to stand at Rs 2,61,16,560.72 crore.

"Domestic bourses continued to trade firm mirroring an upbeat mood in the global markets led by gains in realty, financials and IT stocks, while broader markets strengthened," said Vinod Nair, Head of Research at Geojit Financial Services.

PowerGrid was the biggest gainer among the Sensex constituents on Thursday, gaining 3.40 per cent, followed by ITC, Bajaj Finance, Infosys and NTPC.

"Markets inched further higher and ended in the green for the third successive session, tracking firm global markets. After the initial uptick, the benchmark remained range bound till the end, however movement across sectors kept the participants busy," said Ajit Mishra, VP - Research, Religare Broking Ltd.

In the broader market, the BSE midcap and smallcap indices jumped up to 1.01 per cent.