Investor wealth swells by Rs 5.8 lakh crore as Sensex, Nifty rise for second session

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The Indian market ended higher for the second consecutive session today amid positive global indices. Sensex rose 934 points to 52,532 and Nifty surged 288 points to end at 15,638. The market cap of BSE-listed firms rose by Rs 5.8 lakh crore to Rs 240.66 lakh crore today against Rs 234.86 lakh crore market cap in the previous session.

The 30-stock index hit an intraday high of 52,799, up 1,202 points against the previous close of 51,597. Nifty surged 357 points intraday to 15,707 against the previous close of 15,350. Titan, SBI , TCS, HCL Tech and Bharti Airtel were the top Sensex gainers rising up to 5.92 per cent. Nestle was the sole Sensex loser, falling 0.26 per cent.

BSE midcap and small cap indices surged 508 points and 699 points, respectively.

Share Market update: Sensex rises 934 pts, Nifty ends above 15,600; SBI, Titan top gainers

Mohit Nigam, Head – PMS, Hem Securities said, “On the global front, Asian markets were trading mostly in green as bargain hunting emerged at lower levels after a recent steep selloff. Trading was quiet in the absence of any cues from Wall Street. European markets were trading higher as the selloff paused, but major central banks’ rate hike plans and global recession risks kept investors cautious. On the technical front, immediate support and resistance for Nifty50 is at 15,400 and 15,800 levels. In the case of Bank Nifty, 32,700 may act as immediate support and 33,700 may act as an immediate resistance level.”

All 19 BSE sectoral indices ended in the green.

Consumer durables, oil, and gas, and banking stocks were the top sectoral gainers with their BSE indices ending 1,333 pts, 990 pts, and 579 points higher, respectively.

IT stocks also ended with huge gains today as the BSE IT index zoomed 831 points to 28,110.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1217 crore on Monday, as per exchange data.

Global markets

International oil benchmark Brent crude jumped 1.57 per cent to $115.9 per barrel. Elsewhere in Asia, markets in Hong Kong, Tokyo, and Seoul ended with smart gains, while Shanghai settled in the red. European markets were trading in the green in mid-session deals. The US markets were closed on Monday for a holiday.

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