Market surge: Investors pocket Rs 23,000 crore in last 30 minutes as stocks skyrocket

Mumbai (The Uttam Hindu) : Indian stock markets closed in the green for the third consecutive day on Thursday. The Sensex gained 221.69 points, or 0.27 percent, to 82,566.37, and the Nifty gained 76.15 points, or 0.30 percent, to 25,418.90.

The reason for the rise in the market is believed to be the positive projections regarding the growth rate of the economy released in the Economic Survey. Metal and energy stocks pulled the stock market up. Nifty Metal closed with a gain of 3.07 percent, Nifty Energy 1.87 percent, Nifty Commodities 1.58 percent, Nifty Private Bank 1.03 percent, Nifty Infra 0.85 percent, Nifty PSE 0.82 percent and Nifty Oil & Gas 0.78 percent.

Investors made ₹23,000 crore

The total market capitalization of BSE-listed companies rose to ₹459.76 lakh crore today, from ₹459.53 lakh crore on the previous trading day. Thus, the market cap of BSE-listed companies increased by approximately ₹23,000 crore today. In other words, investors' wealth increased by approximately ₹23,000 crore.

On the other hand, Nifty India Defence closed down by 1.21 percent, Nifty Healthcare by 0.96 percent, Nifty FMCG by 0.91 percent, Nifty Pharma by 0.81 percent, Nifty PSU Bank by 0.79 percent, Nifty IT by 0.76 percent and Nifty Auto by 0.68 percent. Midcap and smallcap were seen stronger than largecap. Nifty Midcap 100 index closed at 58,541 with a gain of 102.40 points or 0.18 percent and Nifty Smallcap 100 index closed at 16,825 with a gain of 34.05 points or 0.20 percent.

Tata Steel, L&T, Axis Bank, Eternal, NTPC, Adani Ports, ICICI Bank, Power Grid, Bharti Airtel, SBI, HDFC Bank, SBI and Bajaj Finserv were among the gainers in the Sensex pack. Asian Paints, IndiGo, Maruti Suzuki, BEL, M&M, TCS, Sun Pharma, HUL, Trent, Titan, ITC and UltraTech Cement were among the losers.

Market experts said the domestic market saw a surge due to the Economic Survey's strong growth forecast for FY27. Gold and silver prices are also seeing a surge due to rising tensions between the US and Iran. Due to rising global tensions, the price of gold on MCX has reached Rs 1.70 lakh per 10 grams and the price of silver has exceeded Rs 4 lakh per kg.