Business OpportunitiesInvestor wealth swells by Rs 77,000 cr
Investor wealth swelled by nearly Rs 77,000 crore today as the BSE Sensex, boosted by strong corporate earnings and positive global cues, surged to a 14-month high of 15,924.23 points.
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The total investors wealth, measured in terms of combined market capitalisation of all the listed companies, has increased by Rs 76,849.98 crore to over Rs 52 lakh crore (Rs 52,16,791.81 crore precisely).
The total market cap of all the listed companies stood at Rs 51,39,941.83 crore rpt Rs 51,39,941.83 crore at the end of trade on Friday last week.
The 30 Sensex companies saw their combined market valuation rising by over Rs 38,539 crore.
The combined market capitalisation of the 30 blue-chip stocks rose to Rs 24,05,274.38 crore, from Rs 23,66,734.60 crore on July 31. These elite companies account for about 46 per cent of the total market capitalisation of all companies on BSE.
The Bombay Stock Exchange benchmark index surged 253.92 points, or 1.62 per cent, to 15,924.23 which, analysts feel, was due to the return of investor confidence on account of positive global cues and domestic earnings figures.
The gains in today"s trade was mainly driven by Hindalco which climbed 7.98 per cent followed by Mahindra & Mahindra (6.88 per cent) and Reliance Communications (5.17 per cent).