31 May , 2021 By : Debdeep Gupta
Investors have gained Rs 3,93,349.08 crore in four days following a strong rally in the equity markets amid a declining trend in COVID-19 cases. In four consecutive sessions of gains, the 30-share BSE Sensex has climbed 1,299.91 points or 2.56 percent.
The BSE benchmark index on Monday closed at 51,937.44, a gain of 514.56 points or 1 percent. In four days, the market capitalization of BSE-listed companies zoomed Rs 3,93,349.08 crore to close at a record high of Rs 2,22,99,810.27 crore Monday.
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"After making a flat start, the market extended gains throughout the session. Investor sentiments remained bullish over hopes of a revival in the global economy and a declining trend in COVID-19 cases continues to offer comfort to investors. "Index heavyweight Reliance and large banking stocks like ICICI Bank and HDFC Bank were among the top contributors to benchmark gains in today's session," said Sumeet Bagadia, Executive Director, Choice Broking.
Reliance Industries was the biggest gainer in the 30-share frontline companies pack, jumping 3.13 percent, followed by ICICI Bank, Bharti Airtel, Dr. Reddy's, Maruti, and ITC. In contrast, M&M, Infosys, L&T, and IndusInd Bank were among the laggards.
In the broader market, the BSE midcap and smallcap indices gained up to 0.50 percent. "The rise in heavyweights supported the rally and sectors like metal, private banks, and energy witnessed maximum gains in anticipation of better economic growth," said Vinod Nair, Head of Research at Geojit Financial Services.
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