29.6 C
Guwahati
Sunday, July 6, 2025

Investors Richer By Over Rs 12 Lakh Crore As Markets Record Sharp Gains

- Advertisement -
- Advertisement -

New Delhi, May 17 (PTI): Equity investors became richer by over Rs 12 lakh crore on Tuesday, helped by a smart rally in the broader market.

The 30-share BSE benchmark zoomed 1,344.63 points or 2.54 per cent to settle at 54,318.47 points with all of its constituents closing in the green.

- Advertisement -

Tracking the sharp rally in equities, the market capitalisation of BSE-listed firms jumped Rs 12,05,523.65 crore to Rs 2,55,55,447.68 crore.

“Markets witnessed a sharp rebound and gained over 2.5 per cent, thanks to favourable cues. The benchmark opened higher led by supportive Asian markets as China eased lockdown restrictions. As the day progressed, healthy buying across sectors and short-covering supported the market to maintain its momentum.”

“It is a much-needed breather for the bulls after five weeks of slide,” Ajit Mishra, VP – Research at Religare Broking Ltd, said.

Tata Steel, Reliance Industries, ITC, Wipro, ICICI Bank, Larsen & Toubro, HCL Technologies and Maruti were the major gainers among the Sensex constituents.

- Advertisement -

Asian markets in Hong Kong, Seoul, Tokyo and Shanghai ended higher. Equity exchanges in Europe were trading in the green in the afternoon session.

In the broader market, the BSE smallcap gauge rallied 2.78 per cent and midcap index jumped 2.51 per cent.

All BSE sectoral indices also ended higher, with metal jumping 7.62 per cent, followed by basic materials (4.26 per cent), energy (4.13 per cent), oil and gas (3.52 per cent), telecom (3.31 per cent) and industrials (3.14 per cent).

A total of 2,624 stocks advanced, while 714 declined and 124 remained unchanged.

- Advertisement -

“After a long gap, the market has witnessed a strong resilience supported by heavyweights and broader markets. The market was trading at oversold territory and was inspired by optimism in the Asian markets,” Vinod Nair, head of Research at Geojit Financial Services, said.

- Advertisement -
The Hills Times
The Hills Timeshttps://www.thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -