New Delhi: Equity investors became richer by over Rs 10.43 lakh crore in the past five days, as markets continued their winning momentum helped by foreign fund inflows and stable global trends. The market capitalisation of BSE-listed firms has surged Rs 10,43,216.79 crore to Rs 2,62,37,776.13 crore in the last five trading sessions (March 29-April 6).
This week, equity markets were closed on Tuesday (April 4) for "Mahavir Jayanti". Markets are closed on Friday on account of "Good Friday". Last week, stock markets were closed on Thursday for "Ram Navami". (Also Read: Bill Gates, Ex-Wife Share First Pic With Granddaughter - Check Pics)
The 30-share BSE Sensex has jumped 2,219.25 points or 3.85 percent in the past five trading sessions. According to market analysts, the benchmark indices have rallied aided by improved overseas fund inflows and positive global cues. (Also Read: Scientists Claim AI To Overtake Humans Soon)
"The Indian equity market saw gains for the second week in a row after a protracted period of underperformance, thanks to stable global cues, FII buying amid valuation comfort, and signs of a worldwide peak in interest rates," said Santosh Meena, Head of Research, Swastika Investment Ltd.
On Thursday, the BSE Sensex had climbed 143.66 points or 0.24 percent to settle at 59,832.97 after the Reserve Bank of India (RBI) unexpectedly kept the benchmark rate unchanged.
Umesh Kumar Mehta, CIO of SAMCO MF, said RBI in its acts to maintain an equilibrium of growth and inflation has judiciously opted to keep the rates unchanged at 6.5 percent, diverging from the Fed.
"Equity markets had already started consolidating but now since the interest rates are also near the peak cycle, it is an ideal launching pad of a new bull market locally and globally," Mehta added.
