Investors’ wealth jumps by over Rs 5.4 lakh crore; Sensex stock trades higher
The benchmark equity indices were trading over 2.2 per cent higher in the late morning deals on Thursday tracking gains in broader Asian markets that rose as oil prices fell, while investors turned their focus on assembly election results in five key states in the country including Uttar Pradesh and Punjab.
FollowIn line with a surge in equity benchmarks for the third straight session, investors’ wealth jumped by over Rs 5.4 lakh crore early on Thursday, even as the focus squarely remains on the state assembly elections' results in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa.
That comes after Wednesday’s rally in domestic bourses pushed the market capitalisation of the BSE-listed companies to jump by Rs 7,21,949.74 crore to Rs 2,48,32,780.78 crore in just two days, including a rise in investors’ wealth by over Rs 2.51 lakh crores on Tuesday, reported NDTV.
The Sensex index benchmark surged over 1,300 points early on Thursday, while the Nifty rose to above 16,700 points. Markets had faced four sessions of sharp declines from February 28 to March 7.
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The benchmark equity indices were trading over 2.2 per cent higher in the late morning deals on Thursday tracking gains in broader Asian markets that rose as oil prices fell, while investors turned their focus on assembly election results in five key states in the country including Uttar Pradesh and Punjab.
At 11:38 am, the S&P BSE Sensex was trading at 55,892.08, up 1,244.75 points (2.28 per cent) while the Nifty 50 was up 361.45 points (2.21 per cent) at 16,706.80. Both the indices opened around 2 per cent higher earlier in the day and inched up as the trade progressed.
Meanwhile, the government has appointed State Bank of India (SBI) managing director Ashwani Bhatia as a whole-time member (WTM) of the Securities and Exchange Board of India (SEBI).
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Bhatia as a member initially for a period of three years from the date of assumption of charge, sources said.
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