Investors richer by Rs 2 lakh cr as markets reach lifetime highs

Following the rally in the market, the market capitalisation of BSE-listed firms rose by Rs 2,06,558.75 crore to Rs 1,65,67,257.92 crore. "Markets started the week on robust note and made a new record high, taking cues from global indices. Choice Broking Executive Director Sumeet Bagadia said, "Tracking positive global cues over US presidential election outcome, Indian bourses traded at all-time high level.

Investors became richer by over Rs 2 lakh crore on Monday as equity markets surged to record highs tracking a rally in global indices. The BSE Sensex jumped 704.37 points or 1.68 per cent to close at its all-time high of 42,597.43. During the day, it rose to 42,645.33 -- its all-time high.

The broader NSE Nifty too scaled a fresh intra-day peak of 12,474.05. It ended at a lifetime high of 12,461.05, up 197.50 points or 1.61 per cent. Following the rally in the market, the market capitalisation of BSE-listed firms rose by Rs 2,06,558.75 crore to Rs 1,65,67,257.92 crore.

"Markets started the week on robust note and made a new record high, taking cues from global indices. The reaction was mainly in response to the news of Joe Biden winning the US presidential elections," Ajit Mishra, VP - Research at Religare Broking Ltd, said. Choice Broking Executive Director Sumeet Bagadia said, "Tracking positive global cues over US presidential election outcome, Indian bourses traded at all-time high level. Strong foreign inflows and hopes over US stimulus lifted the domestic market sentiments." From the 30-share pack, 28 companies closed with gains, with IndusInd Bank being the top gainer, rising 4.95 per cent, followed by Bharti Airtel, ICICI Bank, Axis Bank and PowerGrid. ITC and Maruti closed lower.

BSE telecom, bankex, power, metal, finance, consumer durables and teck indices gained up to 3.81 per cent, while healthcare closed down marginally. In the broader market, the BSE mid-cap and small-cap indices rose up to 1.01 per cent.

On the BSE, 1,485 companies advanced, while 1,206 declined and 191 remained unchanged..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)