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Investor wealth jumps Rs 1.82 lakh cr as mkts bounce back

Press Trust of India  |  New Delhi 

Investor wealth on Tuesday jumped Rs 1,82,769.92 crore as stock markets bounced back after posting the worst one-day fall

in the previous trade.

Indian stocks rebounded on Tuesday in line with global recovery on hopes stimulus measures by the governments to mitigate the impact of coronavirus outbreak. The benchmark index Sensex soared by 692.79 points or 2.67 per cent to close at 26,674.03.

The market capitalisation of BSE-listed companies rose by Rs 1,82,769.92 crore to Rs 1,03,69,706.20 crore.

On Monday, the benchmark index had tanked 3,934.72 points or 13.15 per cent to close at 25,981.24.

"Post a sharp decline in the previous session, the Indian markets witnessed healthy buying interest led by positive global cues and rising hopes of a stimulus package from the government. The broader markets underperformed wherein the BSE midcap ended higher by 1.6 per cent and smallcap ended flat," according to Ajit Mishra, VP - Research, Religare Broking Ltd.

Equity benchmark recovered over 1,400 points in opening session tracking gains in Asian peers after the Federal Reserve announced measures to support the US economy.

V K Vijayakumar, Chief Investment Strategist, Geojit financial services said, "Amidst the lockdown, extension of deadlines and relaxation of norms brings in great relief to the taxpayers and businesses in the country. The focus should be on the low income earners, as they are the worst hit from the lockdown. The waiver of charges on cash withdrawal from ATMs, will be helpful for citizens."

On the sector front, the IT index was the top outperformer gaining nearly 7 per cent, followed by FMCG and Healthcare which were up3.13 per cent and2.33per cent.

From the 30-share Sensex pack, Infosys was the top gainer, rising 12.69 per cent, followed by Bajaj Finance, HUL and RIL.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 24 2020. 18:32 IST