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Investor wealth shoots by Rs 12.48 trillion in Monday morning trading sessions
Image Credit: Pixabay

Investor wealth shoots by Rs 12.48 trillion in Monday morning trading sessions

| @indiablooms | 03 Jun 2024, 01:46 pm

Mumbai: Investors saw their wealth swell by Rs 12.48 trillion during Monday morning's trading session as the benchmark equity index, Sensex, reached an all-time high, reported media.

This surge followed exit polls predicting a significant victory for the BJP-led NDA in the Lok Sabha elections.

The 30-share BSE Sensex climbed 2,777.58 points, or 3.75 percent, to a new record of 76,738.89 in early trade.

Following the massive rally in equities, the market capitalization of BSE-listed companies surged by Rs 12,48,952.68 crore, reaching a record high of Rs 4,24,61,833.82 crore ($5.10 trillion) during Monday morning's trade, reported Business Standard.

Exit polls on Saturday predicted that Prime Minister Narendra Modi would secure a third consecutive term, with the BJP-led NDA anticipated to win a substantial majority in the Lok Sabha elections.

The counting of votes will take place on June 4.

India's economy grew by 8.2 percent in the fiscal year that ended in March, cementing the country's position as the fastest-growing major economy in the world.

All 30 companies in the Sensex were trading positively.

The top gainers included Power Grid, NTPC, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, IndusInd Bank, and Axis Bank, said the report.

In Asian markets, Seoul, Tokyo, and Hong Kong were up, while Shanghai was down. US markets closed mostly higher on Friday, it added.

Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,613.24 crore on Friday, according to exchange data.

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