Investors wealth witnessed a jump by Rs. 3.49 lakh cr

Spread the love

New Delhi: Investors’ wealth jumped by Rs 3,49,642.03 crore on Monday, the first day of trading in 2022, helped by a rally in the equity market.

The 30-share Sensex zoomed 929.40 points or 1.60 percent to settle at 59,183.22. During the day, it gained 1,012.57 points to touch 59,266.39.

Cheering the rally, the market capitalization of BSE-listed companies jumped by Rs 3,49,642.03 crore to reach Rs 2,69,49,853.58 crore on Monday.

“Indian equity market snubbed sharp rise in Covid cases and began 2022 on a cheerful note. Most of the auto stocks also did well today on the back of better-than-expected sales numbers,” Santosh Meena, Head of Research, Swastika Investmart Ltd, said. Bajaj FinServ emerged as the biggest gainer among the 30-share frontline companies pack, followed by Bajaj Finance, ICICI Bank, Tata Steel, and IndusInd Bank.

In the broader market, the BSE midcap and smallcap indices gained as much as 1.19 percent. “Markets started the year 2022 on a firm note and gained over one-and-a-half percent.

“After a strong uptick, the benchmark moved from strength to strength, thanks to healthy buying in banking and financial pack which was closely followed by metal and auto. Amid all, participants overlooked rising Omicron cases and muted global cues.” Ajit Mishra, VP- Research at Religare Broking Ltd., said.

Source- PTI