Investors gain Rs one trillion in a day as stocks surge

Investors gained close to Rs one lakh crore in a single day today as the Bombay Stock Exchange benchmark Sensex rallied the most since the beginning of the year. The combined market capitalisation of all listed companies surged to Rs 27,92,621.94 crore at the end of trading today from Rs 27,02,067.83 crore yesterday, gaining over Rs 90,550 crore. The BSE benchmark Sensex, which has plunged over nine per cent so far this year, today gained over 400 points or 5.21 per cent for the first time in this calendar year to settle at 8,756.61 points. Today's market rally was led by realty, metal and bank sectors witnessing bouts of heavy buying, which analysts believe is due to the low levels the stocks had fallen to after being the worst hit in the past couple of months. Further, the 30-Sensex companies, which account for over 47 per cent of the total marketcap of all the companies, saw their combined market valuation rise by over Rs 53,829 crore in a single day today.
The combined market cap of the 30 bluechip stocks rose to Rs 13.58 lakh crore from Rs 13.05 lakh crore yesterday. Among the Sensex companies DLF, Tata Motors, Tata Power and ICICI Bank were among the major gainers with their stock prices surging between 9 per cent and 12 per cent.
Source: ET