Markets

Investor wealth jumps by ₹2 lakh crore as markets rally

PTI New Delhi | Updated on August 04, 2020 Published on August 04, 2020

Investor wealth jumped by ₹2 lakh crore on Tuesday as markets returned to winning ways after four straight sessions of losses.

The BSE Sensex soared 748.31 points or 2.03 per cent to close at 37,687.91.

Helped by robust buying sentiment, the market capitalisation of BSE-listed companies increased ₹2,08,395.53 crore to stand at ₹1,48,23,563.81 crore.

“Indian benchmark indices ended the day with gains with positivity emerging post the RBI decision to approve the new CEO for HDFC Bank. Private banks and RIL supported the gains in the benchmark indices. Global cues were also mostly positive, and aided the markets, following better US manufacturing data,” said Vinod Nair, Head of Research, Geojit Financial Services.

Reliance Industries was the top gainer in the Sensex pack, surging 7.10 per cent, followed by HDFC Bank, Maruti Suzuki India, Axis Bank, HDFC, ICICI Bank and Bajaj Finance.

HDFC Bank jumped 3.94 per cent after the RBI approved the appointment of insider Sashidhar Jagdishan as the next MD and CEO of the bank. He will take over from Aditya Puri in October this year.

BSE energy, finance, realty, bankex, auto, healthcare and metal indices rallied up to 5.60 per cent.

In the broader market, the BSE mid-cap and small-cap indices jumped up to 1.23 per cent.

As many as 1,706 stocks advanced, while 933 declined and 143 remained unchanged at the BSE.

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Published on August 04, 2020
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