New Delhi: Investors’ wealth jumped Rs 5.10 lakh crore on Monday as markets bounced back after five consecutive sessions of losses, following a sharp fall in crude oil prices amid easing tensions in West Asia.
The 30-share BSE Sensex jumped 776.01 points, or 1.02 per cent, to settle at 76,835.78. During the day, it soared 841.74 points, or 1.10 per cent, to 76,901.51.
The 50-share NSE Nifty surged 228.50 points, or 0.96 per cent, to end at 23,995.95.
The market capitalisation of BSE-listed companies surged Rs 5,10,561.8 crore to Rs 4,80,80,037.04 crore (USD 5 trillion) following the rebound in equities.
Among Sensex firms, Eternal jumped the most by 5.63 per cent. InterGlobe Aviation, Infosys, Bajaj Finance, Asian Paints and Mahindra & Mahindra were also among the gainers.
HDFC Bank and Axis Bank were the laggards.
Brent crude, the global oil benchmark, tanked 9.40 per cent to USD 87.64 per barrel.
In the last five trading sessions, the BSE benchmark tanked 2,091.68 points, or 2.67 per cent, and the Nifty declined 566.85 points, or 2.32 per cent.
“Indian benchmark indices ended sharply higher, snapping a five-session losing streak, supported by broad-based buying across sectors amid easing geopolitical tensions and a sharp decline in crude oil prices.
“A pause in military strikes between the US and Iran boosted investor sentiment, helping the market open on a strong note with the Nifty reclaiming the 23,900 level,” according to Bajaj Broking Research.
The BSE SmallCap Select index jumped 1.71 per cent, and the MidCap Select index climbed 1.65 per cent.
A total of 2,776 stocks advanced, while 1,580 declined and 202 remained unchanged on the BSE.
“A pause in strikes in West Asia has eased concerns over rising import costs and inflation, triggering a relief rally in markets. The sharp correction in crude oil prices, along with a decline in long-term bond yields, has also raised hopes of a durable resolution, supported by signs of long unwinding,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.
