Tuesday, January 31, 2023

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Investors’ wealth zoom Rs 5.66 trn after equity markets rise

New Delhi: Following a rebound in global equities on Tuesday, equity investors saw their wealth increase by Rs 5.66 trillion.

To end the day at 58,065.47 points, the 30-share BSE Sensex increased by 1,276.66 points, or 2.25 percent. It increased by 1,311.13 points or 2.30 percent throughout the day to reach 58,099.94 points.

Market value of BSE-listed companies increased by Rs 5,66,318.84 to Rs 2,73,92,739.78.

“On the backdrop of strong global cues, the benchmark indices bounced back sharply,” Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd, said.

IndusInd Bank, Bajaj Finance, Tata Consultancy Services, Bajaj Finserv, HDFC, Tata Steel, Larsen & Toubro, Wipro, HDFC Bank, and Axis Bank were the top gainers among the 30-share Sensex group. Only Power Grid, Sun Pharma, and Dr. Reddy’s lagged behind.

The BSE midcap gauge increased by 2.42 percent, and the smallcap index increased by 1.49 percent in the overall market.

All BSE sectoral indices finished in the green, with gains in metals (3.43%), services (3.08%), financial services (2.82%), bankex (2.74%), and IT (3.43%). (2.68 per cent).

Markets in Seoul and Tokyo closed higher elsewhere in Asia. In mid-session trades, stock exchanges in Europe were trading in the green. On Monday, the US stock markets ended much higher.

According to statistics available with the BSE, foreign institutional investors acquired shares worth Rs. 590.58 crore on Monday after recently becoming net sellers.

“Markets recovered strongly after Monday’s slide and gained over 2 per cent, tracking firm global cues,” Ajit Mishra, VP – Research at Religare Broking Ltd, said.

 

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