Market Rebounds with Rs 13.22 Lakh Crore Wealth Surge

After a significant loss, equity investors saw a massive wealth surge by Rs 13.22 lakh crore as markets made a robust comeback. The BSE Sensex jumped over 2,300 points, driven by broad-based buying across sectors. Telecom and services sectors led the recovery, signaling political stability and investor optimism.

Following a major decline, equity investors witnessed an incredible rise in their wealth by Rs 13.22 lakh crore on Wednesday, thanks to a strong market rebound.

The 30-share BSE Sensex soared 2,303.19 points, or 3.20%, settling at 74,382.24. Throughout the day, it even spiked to a 2,455.77-point rally, or 3.40%, peaking at 74,534.82.

This market resurgence reflects a renewed sense of optimism on Dalal Street, fueled by broad-based buying across sectors amid assurances of political stability. The market capitalization of BSE-listed companies skyrocketed by Rs 13,22,847.05 crore to reach Rs 4,08,06,552.32 crore (USD 4.89 trillion).

Vinod Nair, Head of Research at Geojit Financial Services, remarked: ''The Indian market displayed an energetic recovery driven by widespread buying across sectors, as political stability seems ensured. Nonetheless, the focus will remain on government formation and the upcoming RBI policy meeting.''

Key gainers included IndusInd Bank, Tata Steel, and Mahindra & Mahindra, with all 30 Sensex companies closing in the green. Sectors like telecommunications and services saw notable surges of 6.01% and 5.74% respectively.

On the flip side, recent laggards like NTPC and State Bank of India also managed to end in the green. The broader market saw BSE midcap and smallcap indices surge by 4.41% and 2.93% respectively.

With 2,597 stocks advancing while 1,221 declined, the market showcased a comprehensive recovery. Rupen Rajguru, Head of Equity Investments and Strategy at Julius Baer India warned, though, that volatility could persist with NDA staking claim to form the government and subsequent ministerial portfolio allocations.

The comeback followed a grim Tuesday where market cap of BSE-listed companies fell by Rs 31,07,806.27 crore to Rs 3,94,83,705.27 crore (USD 4.73 trillion), with the Sensex dropping by 4,389.73 points, or 5.74%, to 72,079.05.

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