Market Hits New Peaks, Adds Rs 2.17 Lakh Crore to Investor Wealth

6 Dec 2023 , 01:26 PM

Wednesday’s market surge sees investors’ wealth grow by Rs 2.17 lakh crore, driven by strong institutional inflows and gains in blue-chip stocks.

Sensex and Nifty hit record highs, with Nifty approaching the crucial 21,000 level. At the time of writing, Sensex trades at Rs 69,493, up 0.28% from the previous close, while Nifty trades at Rs 20,883, up 0.14%.

The market rally contributes to a total wealth addition of Rs 2.17 lakh crore for investors. BSE-listed companies’ market capitalization rises from Rs 346.47 lakh crore to Rs 348.64 lakh crore in initial Wednesday deals.

Foreign institutional investors exhibit a shift in strategy, becoming consistent buyers over the last seven days, reflecting institutional confidence in the Indian market.

Major Sensex gainers include ITC (1.70%), Wipro (1.43%), Tech Mahindra (1.36%), and Nestle India (1.27%). In the broader market, the BSE midcap and smallcap indices both climb by 0.21%.

Combined market valuation of all listed companies on BSE and NSE surpasses the USD 4 trillion milestone.

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