Investor wealth surges by Rs 1.13 lakh cr in strong stock mkt

Investor wealth today surged by Rs 1.13 lakh crore, helped by a bullish market sentiment where the BSE benchmark index rallied to its record high.
The BSE Sensex surged 184.21 points, or 0.54 per cent, to end at 34,153.85. During the day, the key index touched its lifetime high of 34,188.85.
Led by the rally in the stock market, the total market capitalisation of BSE-listed companies soared by Rs 1,13,924.97 crore to a record Rs 1,53,77,070 crore (USD 2.4 trillion).
From the 30-share Sensex components, 23 stocks ended with gains led by YES Bank and Adani Ports and Special Economic Zone.

Among sectoral indices, BSE telecom index rose the most (2.75 per cent), followed by consumer durables (1.25 per cent).
"Positive US jobs data fuelled optimism in global markets, having a rub-off effect in the domestic market. Additionally, clarity regarding the time frame of PSBs capital infusion provided positive vibes in the domestic market," said Vinod Nair, Head of Research, Geojit Financial Services.
On the BSE, 1,702 stocks advanced, while 1,235 declined and 126 remained unchanged.