Investors became Rs 4 lakh crore richer as the market bounced back after three days of decline.
New Delhi: with one turn upside down In equities After three days of decline, investors, Property There was an increase of Rs 4 lakh crore on Friday, which shows optimism globally. market, The 30-share BSE Sensex closed at 71,683.23, up 496.37 points or 0.70 per cent. During the day it rose 708.78 points or 0.99 percent to 71,895.64.
Following the improvement in domestic equities, the market capitalization (mcap) of BSE-listed companies increased by Rs 4 lakh crore to Rs 373.57 lakh crore.
The BSE benchmark has declined by 2.91 percent in the last three days.
“The market recovered from 3-day losses on the back of renewed all-round buying support due to improvement in global indices. The recent fall was extremely sharp and concerns of high valuations coupled with global factors prompted investors to book profits.
“However, India’s strong growth prospects in the long term will always provide support to declining markets,” said Prashant Tapse, senior VP (research), Mehta Equities Ltd.
Among Sensex companies, Bharti Airtel, NTPC, Tech Mahindra, Tata Steel, Mahindra & Mahindra, UltraTech Cement, Titan, Axis Bank, JSW Steel and Larsen & Toubro were the major gainers.
IndusInd Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India were among the laggards.
“Buying on the dip” and encouraging global cues led the market’s recovery. Today’s rally was broad-based; however, investors are disappointed and are expecting a moderation in the rally.
“As FIIs remain risk-on, there is a possibility that interest rates may not come down and household income growth may slow as per the preliminary third quarter results announced,” said Vinod Nair, head of research at Geojit Financial Services.
In Asian markets, Seoul and Tokyo closed in the green, while Shanghai and Hong Kong closed lower.
European markets were trading on the rise. American markets closed with gains on Thursday.
In the broader market, the BSE midcap gauge jumped 1.69 per cent and the smallcap index climbed 1.06 per cent.
All the indices closed with gains. Oil & Gas rose by 2.17 per cent, Metals by 1.69 per cent, Industrials by 1.62 per cent, Energy by 1.58 per cent, Commodities by 1.44 per cent, Tech (1.29 per cent) and IT (1.06 percent) increased.
Following the improvement in domestic equities, the market capitalization (mcap) of BSE-listed companies increased by Rs 4 lakh crore to Rs 373.57 lakh crore.
The BSE benchmark has declined by 2.91 percent in the last three days.
“The market recovered from 3-day losses on the back of renewed all-round buying support due to improvement in global indices. The recent fall was extremely sharp and concerns of high valuations coupled with global factors prompted investors to book profits.
“However, India’s strong growth prospects in the long term will always provide support to declining markets,” said Prashant Tapse, senior VP (research), Mehta Equities Ltd.
Among Sensex companies, Bharti Airtel, NTPC, Tech Mahindra, Tata Steel, Mahindra & Mahindra, UltraTech Cement, Titan, Axis Bank, JSW Steel and Larsen & Toubro were the major gainers.
IndusInd Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India were among the laggards.
“Buying on the dip” and encouraging global cues led the market’s recovery. Today’s rally was broad-based; however, investors are disappointed and are expecting a moderation in the rally.
“As FIIs remain risk-on, there is a possibility that interest rates may not come down and household income growth may slow as per the preliminary third quarter results announced,” said Vinod Nair, head of research at Geojit Financial Services.
In Asian markets, Seoul and Tokyo closed in the green, while Shanghai and Hong Kong closed lower.
European markets were trading on the rise. American markets closed with gains on Thursday.
In the broader market, the BSE midcap gauge jumped 1.69 per cent and the smallcap index climbed 1.06 per cent.
All the indices closed with gains. Oil & Gas rose by 2.17 per cent, Metals by 1.69 per cent, Industrials by 1.62 per cent, Energy by 1.58 per cent, Commodities by 1.44 per cent, Tech (1.29 per cent) and IT (1.06 percent) increased.
