Equity investors’ wealth increased by almost 10.19 lakh crore during the three-day market rally till May 30. The BSE Sensex rose 1,041.08 points or 1.90 per cent to 55,925.74 on May 30. The benchmark rose 2,176.48 points, or 4%, in three days. Market capitalization of companies listed on BSE increased 10,19,936.84 crore from 2,58,47,092.40 crore in three days, helped by a rise in equity.
Titan climbed the most Sensex Shares gained 4.94 per cent, followed by Mahindra & Mahindra (4.69 per cent), Infosys (4.57 per cent), L&T (3.77 per cent), Tech Mahindra (3.59 per cent), HCL Technologies (3.57 per cent), TCS (3.47 per cent) and Reliance Industries ranked (3.44 percent).
Siddharth Khemka said, “Indian markets witnessed a good rally on positive global cues and early onset of monsoon, raising hopes of moderation in inflation. On the global front, European and Asian markets edged higher after the US market rally last Friday.” was recorded.” Head – Retail Research at Motilal Oswal Financial Services Ltd.
The BSE Midcap index rose 2.28 per cent while the Smallcap index rose 2.23 per cent. Consumer durables grew 4.41 percent, followed by real estate (3.96 percent), information technology (3.75 percent), tech (3.53 percent), consumer discretionary goods and services (2.85 percent), and energy (2.85 percent) (2.72 percent). percent) increased.
Supported by valuation relaxations and a positive trend in global peers, the domestic market is showing a near-term trend reversal. US stocks were boosted on easing inflation concerns that may set the tone for the upcoming Fed policy meeting. will be an important factor.
Vinod Nair, Head of Research, Geojit Financial Services, said: “The easing of the long-running lockdown in China helped lift sentiments in Asian markets.”
Investors were eyeing the Omicron version of the coronavirus, which is causing widespread disease in several countries. Investors are expecting US inflation data later this week to judge the Fed’s decision to cut funding or not, analysts said.
(with agency input)