Investor wealth up Rs 1.87 lakh crore in two-day market rally
At the close of trade, market capitalisation (m-cap) of the BSE-listed companies went up by Rs 1,87,370.56 crore to Rs 1,55,57,484.15 crore in two days on the BSE.
Extending its record-setting streak for the second session, the Sensex gained 308.87 points in two days. During the day on Thursday, the index scaled its record peak of 41,163.79.
The highlight in the market on Thursday was Reliance Industries that became the first Indian company to hit the Rs 10-lakh crore market valuation mark following a spike in its share price.
At the market close, the oil-to-telecom conglomerate's market capitalisation (m-cap) zoomed to Rs 10,01,555.42 crore on the BSE.
"Market stayed positive despite expiry-led volatility and the announcement of GDP (gross domestic product) data tomorrow (Friday) as investors got a sense that increasing global liquidity will provide support in every consolidation. Factors like benign oil prices and fall in yields signal that the RBI (Reserve Bank of India) will continue to maintain its accommodative stance until the economy enters a revival path.
"Additionally, the government's efforts to maintain the fiscal prudence, and stimulus measures may help to extend the breadth of the rally," according to Vinod Nair, head of research at Geojit Financial Services.
Among the 30-share component, 17 scrips closed with gains led by IndusInd Bank, ICICI Bank, Yes Bank and Tata Steel.
On the BSE, 1,283 companies advanced, while 1,201 declined and 196 remained unchanged.
In the broader market, the BSE Midcap and Smallcap indices closed 0.97 per cent and 0.45 per cent higher, respectively. SUM HRS