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Stock investors have become richer by Rs 10.47 lakh crore in two straight days of gains in markets as benchmark Sensex jumped 2 per cent. At close on Wednesday, the market capitalisation of BSE-listed companies surged by Rs 10,47,565.48 crore to Rs 4,52,58,633.53 crore (USD 5.37 trillion) in two days of gains. "The feel good factor of Trump's win in the US election had a rub-off effect on world equity markets, including local indices as domestic investors resorted to value buying, especially in IT stocks, which pushed the benchmark Sensex above the 80k mark. The market is hoping that the new regime will not hurt the HIB visa rules, leading to a rally in the recently beaten-down IT stocks," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. From the 30-share Sensex pack, Tata Consultancy Services and Infosys jumped over 4 per cent each on Wednesday. Tech Mahindra, HCL Technologies, Adani Ports, Larsen & Toubro, Maruti and Reliance Industries were also among the ...
Investors' wealth surged by a whopping Rs 110.57 lakh crore so far this year, driven by a remarkable rally in the stock market, where the benchmark indices shattered many records. The market capitalisation of BSE-listed firms soared Rs 110,57,617.4 crore to Rs 4,74,86,463.65 crore (USD 5.67 trillion) so far this year. The market valuation of all listed firms at the BSE hit an all-time high of Rs 477.93 lakh crore on September 27. The BSE Sensex jumped 12,026.03 points or 16.64 per cent so far in 2024, giving handsome returns to investors. The benchmark scaled its all-time peak of 85,978.25 on September 27, this year, breaching many milestones. Analysts attributed the sharp rally in the markets to robust domestic liquidity along with strong fundamentals of the Indian economy. "One of the key highlights of this year is the robust domestic liquidity, driven by record inflows into the mutual fund industry," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Despite selling