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Investors gain Rs 10 lakh crore in eight sessions on US poll outcome, FIIs inflow

Market capitalisation on BSE rose to Rs 166.43 lakh crore  today against market cap of Rs 157.18 lakh crore on October 30, increasing investor wealth by Rs 10.25 lakh crore during the period

twitter-logoBusinessToday.In | November 11, 2020 | Updated 18:14 IST
Investors gain Rs 10 lakh crore in eight sessions on US poll outcome, FIIs inflow
During the same period, Sensex rallied 3,979 points and Nifty gained 1107 points. On October 30, Sensex closed at 39,614 and Nifty ended at 11,642

Investors have gained over Rs 10 lakh crore in the last eight trading sessions as global markets cheered Joe Biden's win in US polls and reacted to positive news on the COVID-19 vaccine front.

Market capitalisation on BSE rose to Rs 166.43 lakh crore  today against market cap of Rs 157.18 lakh crore on October 30, increasing investor wealth by Rs 10.25 lakh crore during the period.

During the same period, Sensex rallied 3,979 points and Nifty gained 1107 points. On October 30, Sensex closed at 39,614 and Nifty ended at 11,642.

Indices have been rising since November 2 tracking largely positive cues from global markets and strong foreign fund inflows.

Sensex, Nifty close at record highs for third session; Hindalco, Axis Bank top gainers

FIIs have infused Rs 23,575 crore into Indian market in November on weakening of dollar.

 Hopes of a victory by Joe Biden in the US poll and the subsequent result enthused traders and investors across the world who expect additional stimulus from the new government to help recovery in the world's largest economy.

The ensuing rally in global markets took Sensex and Nifty beyond record highs they witnessed on January 20.

Strong earnings by lenders such as ICICI Bank, SBI and Axis Bank also boosted banking stocks for the eighth straight session.

BSE bankex which stood at 27,388 on October 30 has risen 5,726 points since then. The index closed 356 points higher at 33,114 today.

Bank Nifty too has gained 4,945 points during the period. On October 30, the index stood at 23,900. It closed 239 points higher at 28,845 today.

Meanwhile, Indian market ended higher for the eighth straight session today. Logging record closing highs for the third straight session, Sensex ended 316 points higher at 43,593 and Nifty gained 188 points to close at 12,749.  

Yesterday, Sensex ended 680 points higher at 43,227 and Nifty rose 170 points to 12,631.

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