new Delhi: Investors’ wealth surged to over Rs 2.51 lakh crore on Tuesday, with equities recovering sharply after four days of heavy losses.
The 30-share BSE Sensex opened on a weak note and opened the day at 52,260.82, down 581.93 points or 1.10 per cent, amid firm oil prices and continued selling by foreign institutional investors.
Amid volatility, the benchmark touched a high of 53,484.26 and a low of 52,260.82 during the trade. It finally closed at 53,424.09, up 581.34 points or 1.10 per cent.
With recovery in equities, the market capitalization of BSE-listed companies jumped Rs 2,51,663.79 crore to Rs 2,43,62,494.83 crore.
“Markets remained volatile but managed to end with gains taking respite after the recent downtrend. The bias to continue the current trend was negative in the first half. However, healthy buying in select heavyweights intensified in the latter half. of recovery.” Ajit Mishra, VP – Research, Religare Broking Ltd. said.
Sun Pharma was the top gainer among Sensex firms, jumping 3.99 per cent, followed by TCS, NTPC, Wipro, Tech Mahindra, Dr Reddy’s, UltraTech Cement and Infosys. In contrast, Tata Steel, Titan, PowerGrid, Nestle India and Reliance Industries were among the laggards.
In the broader market, the BSE Midcap index rose 1.46 per cent and the Smallcap index rose 1.33 per cent.
“Nifty opened lower in line with global peers. Selling pressure pushed Nifty to 15,671 – down from its previous day’s low. However, there was some respite in the second half of the day along with short covering in the domestic market. Motilal According to Siddharth Khemka, Head of Retail Research, Oswal Financial Services Limited, the global markets are witnessing a correction.
Meanwhile, international oil benchmark Brent crude jumped 3.37 per cent to USD 127.4 per barrel.
Foreign institutional investors continued their sell-off in the Indian markets as they sold shares worth Rs 7,482.08 crore on a net basis on Monday, according to exchange data.
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