New Delhi, March 18 The wealth of equity investors surged by ₹9.18 lakh crore over three days of market recovery, driven by value buying and the rebound in global benchmark indices.
Over the past three trading days, the 30-share BSE Sensex has risen by 2,140.21 points, or 2.87 percent. On Wednesday, the Sensex jumped 633.29 points, or 0.83 percent, to close at 76,704.13.
Following the recovery in equities, the market capitalization of BSE-listed companies surged by ₹9,18,579.57 crore to ₹4,39,00,831.84 crore (USD 4.75 trillion) over three days.
"Indian equity markets continued their upward momentum for a third consecutive session, supported by sustained buying interest throughout the day. The rally was aided by mildly easing crude oil prices, while lingering geopolitical tensions continued to cast a shadow," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Global cues remained positive, with overnight gains in US equities setting the tone, followed by firm trends across Asian markets and positive indications from European bourses, he added.
Among the 30 Sensex firms, Eternal, Tech Mahindra, Infosys, Adani Ports, HCL Tech, Mahindra & Mahindra, Tata Consultancy Services, and Axis Bank were among the major gainers on Wednesday.
NTPC, Hindustan Unilever, Sun Pharma, and HDFC Bank were among the laggards.
In Asian markets, South Korea's benchmark Kospi jumped 5 percent, and Japan's Nikkei 225 index climbed 2.87 percent. Shanghai's SSE Composite index and Hong Kong's Hang Seng index also ended higher.
Markets in Europe were trading in positive territory. The US market ended higher on Tuesday.
The BSE MidCap Select index jumped 2.39 percent, and the SmallCap Select index climbed 1.59 percent.
Among sectoral indices, BSE Focused IT surged 2.95 percent, IT (2.82 percent), realty (2.67 percent), BSE MidSmall Private Banks Quality Tilt (2.48 percent), services (2.45 percent), telecommunication (2.44 percent), and consumer discretionary (2.08 percent).
Metal emerged as the only laggard.
"Domestic markets extended their recovery, supported by opportunistic buying after the recent sell-off. The rebound was broad-based, driven by a combination of short covering and value buying, with leadership from the IT, realty, and auto sectors, along with strength in mid and smallcap stocks," Vinod Nair, Head of Research, Geojit Investments Limited, said.
A total of 3,202 stocks advanced, while 1,088 declined and 142 remained unchanged on the BSE.