Sensex soars over 1,000 points, Nifty tops 21,650; investor wealth jumps Rs 5L cr

Domestic stocks rose sharply in what could be seen a pre-Budget rally on Monday, led by gains across all sectors. The 30-share BSE Sensex pack surged more than 1,000 points to hit above 71,700 level, while the broader NSE Nifty index moved over 300 points to trade above 21,650. Such was the rise in the domestic bourses that nearly Rs 5 lakh crore of BSE market capitalisation (m-cap) was generated. Buying interest in select stocks such as Reliance Industries, HDFC Bank, L&T, ICICI Bank, Kotak Mahindra Bank, Tata Motors, Sun Pharma and PowerGrid pulled the indices higher.

"The government may continue to earmark a significant quantum for capital expenditure with a growth of 15 per cent in its budgetary allocation," said Suman Chowdhury, Chief Economist and Head-Research Acuité Ratings & Research. Investors keenly await the Budget 2024 presentation, due on February 1.

Here's a look at today's market rise in numbers:

Investor wealth jumps around Rs 5 lakh crore

Investor wealth, as suggested by the BSE m-cap, rose Rs 4.97 lakh crore to Rs 376.09 lakh crore today compared with a valuation of Rs 371.12 lakh crore recorded yesterday.

418 stocks hit 52-week high levels on BSE

As many as 418 stocks hit their 52-week high levels today. BSE 500 stocks such as ACC, AIA Engineering, Amber Enterprises, Ambuja Cements, Aptus, Bajaj Auto, Borosil Renewables, BPCL and Coal India hit their respective one-year high levels. That said, 20 stocks touched their respective one-year lows today.

2,356 stocks in the green

Out of 3,987 stocks, 2,356 stocks were seen advancing. 1,463 stocks were declining, while 168 stocks remained unchanged.

Infibeam, IRB Infra & SJVN jump up to 18%

Stocks such as Infibeam Avenues, IRB Infra, SJVN, NMDC Steel, NBCC, MMTC, Tata Investment, ONGC, NCC, RITES, Welspun Living, Delhivery, REC, PNC Infra and MCX surged as much as 18.39 per cent.

Energy & PSU bank stocks among top gainers

For Sensex, the major constituents that pulled the index higher were Reliance, HDFC Bank, L&T, ICICI Bank, Kotak Mahindra Bank, Tata Motors, Sun Pharma, PowerGrid and NTPC. RIL, HDFC and L&T alone contributed positively to around 607-point climb.

On NSE, all 15 sub-indices were seen trading in the green. Nifty Nifty Oil & Gas and Nifty PSU Bank outperformed the NSE index by rising 3.80 per cent and 2.37 per cent.

FII-DII data

Foreign institutional investors (FIIs) sold Rs 2,144.06 crore of shares on a net basis during the previous session, while domestic institutional investors (DIIs) bought Rs 3,474.89 crore of stocks, exchange data showed.

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