New Delhi- Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore.
The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
In five days, the BSE benchmark rallied 1,972.72 points or 2.76 per cent. During this time, investors’ wealth surged Rs 9,68,544.93 crore to reach a fresh record high of Rs 3,76,09,510.01 crore.
“It is a historic day for the Indian stock market as the Nifty breached the level of 22,000. The better-than-expected results from IT majors have hinted that it may be the bottoming out of the poor performance by IT stocks,” said Shauryam Gupta, CEO, Rupeezy.
Among the Sensex firms on Monday, Wipro jumped over 6 per cent after the IT company’s December quarter earnings beat estimates.
The other prominent gainers were HCL Technologies, Infosys, Bharti Airtel, Tech Mahindra, HDFC Bank and Reliance Industries.
HCL Technologies on Friday reported a 6.2 per cent increase in consolidated net profit at Rs 4,350 crore, highest ever on a quarterly basis, in the three months ended December 2023, on the back of growth in both services and software businesses.
Bajaj Finance, Bajaj Finserv, Larsen & Toubro, Tata Motors, Tata Steel and Axis Bank were among the laggards.
“Nifty and Sensex soared to fresh record highs, underpinned by favorable macroeconomic and geopolitical factors,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
In the broader market, the BSE midcap gauge climbed 0.67 per cent and smallcap index rallied 0.11 per cent.
Among the indices, IT jumped 1.79 per cent, teck climbed 1.79 per cent, oil & gas (1.70 per cent), energy (1.66 per cent), telecommunication (1.41 per cent) and financial services (0.81 per cent).
Commodities and metal were the laggards. (PTI)