Mumbai: Indian stock markets witnessed a sharp recovery over the last two sessions, boosting investor wealth by Rs 15.80 lakh crore. The rally was driven by falling crude oil prices and hopes of easing tensions in the West Asia region.
The BSE Sensex surged 2,577 points or 3.54 percent in two days. On Wednesday alone, it rose 1,205 points to close at 75,273.45.
Investor Wealth Jumps
With rising markets, the total market capitalisation of BSE-listed companies increased to Rs 4,31,01,834.74 crore (about USD 4.59 trillion).
This sharp rise reflects improved investor confidence after recent market volatility.
Key Reasons Behind Rally
The main trigger for the rally was a fall in global oil prices. Brent crude dropped 6.16 percent to USD 97.79 per barrel.
At the same time, hopes of a possible de-escalation in the US-Iran conflict improved global sentiment. Positive cues from global markets also supported the rally.
Experts said easing geopolitical tensions and lower crude prices are key factors boosting the market.
Global Markets Support Gains
Asian markets such as Japan, South Korea, China and Hong Kong ended higher. European markets were also trading in the green, further supporting Indian equities.
This global positivity helped extend the rally across sectors.
Top Gainers and Losers
Among Sensex stocks, UltraTech Cement, Bajaj Finance, Larsen & Toubro, Titan, IndiGo and Trent were top gainers.
On the other hand, Tech Mahindra, Power Grid, TCS and Bharat Electronics were among the laggards.
Broad-Based Buying Seen
The rally was broad-based, with midcap and smallcap stocks also rising strongly. The BSE SmallCap index jumped 3.05 percent, while the MidCap index gained 2.50 percent.
All sectoral indices ended higher, led by banking, commodities, realty and metal stocks.
Market Breadth Positive
Out of total stocks traded on BSE, 2,959 stocks advanced, while 1,357 declined and 156 remained unchanged. This shows strong buying interest across the market.
Experts believe markets may remain positive in the near term if oil prices stay stable and geopolitical tensions continue to ease. However, any negative global development could impact sentiment.
