Markets soar: investors earn Rs 4.29 lakh crore as Indian indices close strong

Mumbai (The Uttam Hindu) – Indian stock markets closed in the green on Wednesday's trading session. The market witnessed widespread buying. The Sensex gained 575.45 points, or 0.70 percent, to close at 82,605.43, and the Nifty gained 178.05 points, or 0.71 percent, to close at 25,323.55.

Realty stocks led the market rally. The Nifty Realty index closed with a gain of 3.05 percent. Nifty PSU Bank closed with gains of 1.67 percent, Nifty IT 0.53 percent, Nifty Financial Services 0.91 percent, Nifty Metal 1.00 percent, and Nifty FMCG 0.99 percent.

Investors made ₹4.29 lakh crore.

The total market capitalization of BSE-listed companies rose to ₹463.96 lakh crore today, October 15, from ₹459.67 lakh crore on the previous trading day, Tuesday, October 14. Thus, the market cap of BSE-listed companies increased by approximately ₹4.29 lakh crore today. In other words, investors' wealth increased by approximately ₹4.29 lakh crore.

Bajaj Finance, Bajaj Finserv, Asian Paints, L&T, Trent, UltraTech Cement, Eternal (Zomato), Adani Ports, Tata Steel, BEL, Power Grid, Bharti Airtel and ICICI Bank were among the gainers in the Sensex pack. Tata Motors, Infosys, Tech Mahindra, Axis Bank and Maruti Suzuki were among the losers. Midcaps and smallcaps performed stronger than largecaps. Nifty Midcap 100 index was up 645.60 points or 1.11 percent at 58,970 and Nifty Smallcap 100 index was up 147.90 points or 0.82 percent at 18,088.05.

Market experts said that after two days of selling, the Indian stock market witnessed a slight rise. This was due to the Fed Chairman adopting a dovish stance on interest rates and mentioning that he was considering ending quantitative tightening. The 10-year bond yield in the US declined, while the rupee appreciated, indicating the inclination of FIIs towards emerging markets like India, which could determine the direction of the domestic market in the short to medium term. They further said that realty performed better due to falling interest rates and attractive valuations, while positive global cues supported the IT and metal indices.

The Indian stock market opened in the green. At around 9.27 am, the Sensex was trading at 82,354.32, up 324.34 points or 0.40 percent, while the Nifty was trading at 25,248.80, up 103.30 points or 0.41 percent.