Investors’ wealth rose by more than 9 trillion rupees in three days of a sharp rise in the stock market.
BSE’s 30-share Sensex benchmark index jumped 712.46 points or 1.25% to settle at 57,570.25 on Friday.
In three days, the benchmark index climbed 2,301.76 points or 4.16%.
The sustained three-day equity trend added Rs 9,03,574.58 crore to the market capitalization of BSE-listed companies which now stands at Rs 2,66,58,604.02 crore.
“Domestic equities continued their northward journey for the third day in a row on the back of healthy corporate earnings and positive global indices,” said Siddhartha Khemka, head of retail research at Motilal Oswal Financial. Services Ltd.
Lower commodity prices, reduced sales intensity by foreign institutional investors (FIIs) and a better-than-expected earnings season led to the rally in markets, analysts said.
“Markets traded robustly for a new session and gained more than 1%,” Ajit Mishra, vice president of research at Religare Broking Ltd, said on Friday.
In the broader market, the BSE small-cap gauge jumped 1.38% and the mid-cap index climbed 1.01% on Friday.
Among Sensex constituents, Tata Steel, Sun Pharma, Bajaj Finserv, IndusInd Bank, Infosys, Asian Paints, Reliance Industries and Bajaj Finance were the main gainers.
Dr Reddy’s, Kotak Mahindra Bank, State Bank of India, ITC and Axis Bank lagged behind.
All of the BSE sector indices finished in the green, with metal climbing the most 4.59%, followed by energy (2.41%), basic materials (2.30%), oil and gas (2.21%), IT (1.71%). cent), teak (1.68%) and durable consumer goods (1.47%).
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)