Equity traders turned richer by over Rs 5 lakh crore in two days of restoration within the inventory market amid agency world developments.
The 30-share BSE benchmark Sensex jumped 462.26 factors or 0.88 per cent to settle at 52,727.98 on Friday. It had gained 443.19 factors or 0.86 per cent to 52,265.72 on Thursday.
Following the restoration in equities, the market capitalisation of BSE-listed companies climbed Rs 5,06,975.56 crore to Rs 2,42,27,901.56 crore in two days.
“Markets edged higher for the second consecutive session, driven by firm global cues. After a gap-up opening, the benchmark remained in a range and finally settled around the upper band of the same. Markets are witnessing consolidation after the sharp decline and awaiting some fresh triggers,” stated Ajit Mishra, VP – Research at Religare Broking Ltd.
On Friday, from the Sensex pack, M&M was the most important gainer, with a achieve of 4.28 per cent, adopted by Bajaj Finance, IndusInd Bank, Hindustan Unilever, ICICI Bank and Bharti Airtel.
On the opposite hand, Tech Mahindra, Infosys, HCL Technologies, TCS, Wipro, Sun Pharma and Larsen & Toubro have been the laggards.
In the broader market, the BSE smallcap gauge jumped 1.60 per cent and the midcap index gained 1.53 per cent.
Among the BSE sectoral indices, telecom jumped 2.53 per cent, auto (1.98 per cent), energy (1.73 per cent), client discretionary items & companies (1.68 per cent), client durables (1.47 per cent) and finance (1.40 per cent). Information Technology and teck have been the one laggards.
As many as 2,401 shares superior, whereas 906 declined and 141 remained unchanged.
“Post correction over the past couple of weeks, equity markets ended this week with positive returns. Correction in crude oil prices from recent peak and softening in commodity prices offered some relief to the markets in an otherwise high global inflation environment,” stated Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities.
Source: www.financialexpress.com”