Investors richer by Rs 1.76L-cr as markets surge

NEW DELHI: Driven by way of a powerful show by way of benchmark indices, investor wealth on Monday rose by way of Rs 1.76 lakh crore because the BSE sensex rallied 553 points to near at an all-time high stage. The BSE 30-share index zoomed 553.42 points or 1.39 per cent to near at 40,267.62. During the trade, it complex 594.7 points to 40,308.90, its lifetime top.

The broader NSE benchmark additionally surged 165.75 points, or 1.39 per cent, to settle at 12,088.55.

Sensex jumps 553 points to report remaining high of 40,268; Nifty at 12,089

Equity indices on Monday clocked recent report highs as a pointy decline in financial expansion in the March quarter firmed expectations for at least a quarter-point (25 bps) price minimize from the Reserve Bank of India (RBI) on June 6.

Led by way of the pointy rally in the fairness marketplace, the marketplace capitalisation (m-cap) of BSE-listed firms surged Rs 1,76,402.37 crore to Rs 1,56,14,416.92 crore.

"Today auto, FMCG, IT and realty pulled the market to a new all-time high as they are trying to catch up the rally on the back of expected rate cut by RBI and increase in demand from domestic sectors," CapitalAim head of analysis Romesh Tiwari mentioned.

The RBI's Monetary Policy Committee (MPC) is slated to announce its bi-monthly policy on Thursday.

"In its forthcoming policy review on June 6, 2019, we expect the RBI to cut policy rate by 25 bps. We also see a good chance of the policy stance shifting to accommodative/dovish (from neutral currently)," Edelweiss Research mentioned in a record.

"This would be essentially driven by a broad-based slowdown in economic momentum in recent months; modest improvement in liquidity conditions (credit-deposit ratio, corporate bond spreads) but far from normal and inflation dynamics, which remain benign," it mentioned.

From the 30-share pack, 27 shares closed with gains led by way of Hero MotoCorp, Bajaj Auto, IndusInd Bank and Asian Paints.

All BSE sectoral indices ended in the inexperienced, with auto, power, metal, tech and finance rallying as much as 1.93 per cent.

In the wider marketplace, BSE mid-cap and small-cap indices rose by way of as much as zero.90 per cent.

"Dow Jones closed the previous trading day in red with a 1.4 per cent decline but Indian bourses continued to show strength and opened in green today. Despite the weak macros and domestic factors, Nifty and sensex crossed milestone levels and rallied up," Samco Securities head of analysis Umesh Mehta mentioned.
Investors richer by Rs 1.76L-cr as markets surge Investors richer by Rs 1.76L-cr as markets surge Reviewed by Kailash on June 04, 2019 Rating: 5
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