Investors' wealth zooms by Rs 4.76 lakh cr in first 2 trading days of 2022

view original post

Equity investors’ wealth jumped by Rs 4.76 trillion in the first two days of trading in the New Year, driven by optimism in the broader market.

Topics
Indian investors | Indian equity markets

Equity investors are a happy lot as their wealth jumped by Rs 4.76 trillion in the first two days of trading in the New Year, driven by optimism in the broader market.

The 30-share Sensex zoomed 382.7 points to 59,565.92 in early trade on Tuesday. The benchmark had jumped 929.40 points or 1.60 per cent to settle at 59,183.22 on Monday, the first day of trading in 2022.


Helped by the ongoing rally, the market capitalisation of BSE-listed companies jumped by Rs 4,76,367.89 crore to reach Rs 2,70,76,579.44 crore in just two trading sessions.

The surge in global fuelled the rally in domestic equities on Tuesday.

In early trade on Tuesday, NTPC was the lead gainer among the pack of 30-share frontline companies, followed by PowerGrid, SBI and Axis Bank.

In the broader market, the midcap and smallcap indices jumped up to 0.42 per cent in early trade.

“US setting record highs on the first trading day of 2022 is auspicious for global stock The spectacular rally in Nifty and FIIs turning buyers with net purchases worth Rs 703 crore are bullish signals.

“If the FII buying yesterday is an indication of their renewed interest in India, financials particularly the leading banks, are likely to continue the momentum witnessed yesterday,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In 2021, equity investors reaped handsome rewards as their wealth grew nearly by Rs 78 trillion.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, January 04 2022. 11:47 IST

Related Posts