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Investor wealth soars Rs 1.72 trn as stock market shows positive momentum

From the 30-share pack, 25 stocks ended with gains led by Maruti Suzuki India, Tata Motors, Vedanta and Induslnd Bank

Press Trust of India  |  New Delhi 

Mutual funds bat for location-neutral incentives to bring new investors

rose by Rs 1.72 trillion on Friday helped by a smart rally in the broader market where the surged almost 580 points.

Tracking gains in stocks, the market capitalisation of the BSE listed companies surged by Rs 1728.7 billion to Rs 140787.02 billion.

The 30-share key index soared 579.68 points, or 1.68 per cent, to end at 35,011.65.

"After a flat start to November, stock on Friday traded with a strong positive momentum and registered sharp gains. Trading sentiment got a boost amid a fall in global crude prices and rising rupee. Positive global cues also triggered buying," said Abhijeet Dey, senior fund manager-Equities, BNP Paribas Mutual Fund.

The rupee on  Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar.

Brent crude, the international benchmark, dropped below the $73-mark to quote at a seven-month low of $72.65 by falling 3.48 per cent.

From the 30-share pack, 25 stocks ended with gains led by India, Tata Motors, and

In the broader market, the S&P BSE midcap index gained 0.78 per cent and smallcap index 0.76 per cent.

First Published: Fri, November 02 2018. 18:55 IST