As stocks shot up, investors get richer by Rs 2.5 lakh cr

Driven by a sharp rally in the broader market where the benchmark Sensex zoomed by 777 points today, investors became richer by Rs 2.5 lakh crore.

Market capitalisation of BSE-listed companies surged by Rs 2,51,743 crore to Rs 88,34,888 crore.

Marking its biggest post-Budget day rally ever, the Sensex soared 777 points, also its best single-day show in nearly seven years.

The BSE Sensex closed at 23,779.35, a jump of 777.35 points or 3.38 per cent. Today’s gain is the biggest single-day rise since May 18, 2009, when the 30-share barometer had jumped 2,110.79 points.

The NSE Nifty was up 235.25 points, or 3.37 per cent, at 7,222.30.

“Market sentiment was boosted by the government’s thrust on infrastructure sectors in the Union Budget 2016-17 and its decision to stand by the fiscal deficit target that it had set for the next fiscal,” said Shreyash Devalkar, Fund Manager Equities, BNP Paribas Mutual Fund.

It was a sea of green at the Sensex where 27 index components rallied led by ITC, ICICI Bank and Maruti Suzuki.


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