Investors Gain ₹29 Lakh Crore as Sensex, Nifty Surge Over 8%
The Sensex and Nifty surged, adding ₹29 lakh crore in value for investors amid strong foreign inflows and market optimism.
NEW DELHI, Nov 6: The BSE Sensex increased by 2,009 points to close at 79,310, while the NSE Nifty rose by 576 points to reach 24,536. This growth adds approximately ₹29 lakh crore to investors’ wealth, driven by significant foreign institutional investments and a wave of optimism in the markets.
In the last six trading sessions, the Sensex has gained 6,063 points, marking an 8.27% increase, while the Nifty has surged by 1,837 points, or 8%. According to exchange data, foreign institutional investors purchased equities worth ₹7,284 crore on a recent Wednesday, intensifying the bullish sentiment.
Strong performances were observed among several stocks. Bajaj Finance led the way with a 7.77% increase, followed by InterGlobe Aviation at 5.80%, ICICI Bank at 5.29%, and both Maruti and Mahindra & Mahindra around 5.15%. In contrast, NTPC and Bharat Electronics saw declines.
Factors contributing to the rally include a drop in crude oil prices, which are critical to India’s economy, and a positive shift in global markets following the U.S. elections. The outcome, where the Democratic Party gained control over Congress, has led to increased investor confidence.
Market analysts suggest that this bullish sentiment could continue if foreign investment remains strong. However, they also caution about potential volatility due to external market influences.
Sources
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