Investors’ wealth has increased by Rs 6,44,760.45 crore in four trading sessions on the back of an equity market rally. In the last four trading sessions, the 30-share BSE benchmark has gained 1,248.90 points or 2.58%. On Monday, the index jumped 295.94 points or 0.60 per cent to close at 49,502.41. The market capitalisation of BSE-listed companies zoomed Rs 6,44,760.45 crore to Rs 2,13,28,658.05 crore in four trading days starting May 5.
“Domestic equities continued to defy concerns of rising Covid-19 cases and extended mobility restrictions by several state by extending gains for the fourth consecutive trading day. “We note that favourable global cues, steady March quarter earnings along with favourable commentary, liquidity support announced by RBI and absence of nationwide lockdown have aided domestic equities to shrug off rising Covid-19 cases in the country,” Binod Modi, Head Strategy at Reliance Securities, said.