Investors gained Rs 3 lakh crore today as Sensex gained nearly 1,000 points in early trade on nationwide easing of restrictions on the coronavirus lockdown from June 1. Market capitalisation on BSE rose to Rs 130.05 lakh crore today compared to the previous session's market cap of Rs 127.06 lakh crore. That led the market cap to rise by Rs 2.99 lakh crore.
Sensex gained 910 points to 33,335 against previous close of 32,424. Nifty too rose 272 points to 9,852 against previous close of 9,580.
However, Sensex is still down 19.27% since the beginning of this year. Similarly, Nifty has lost 19.14% during the same period as coronavirus crisis roiled global markets since February this year. All Sensex stocks except Sun Pharma were trading in green. Tata Steel, Bajaj Finance, Axis Bank and Titan were the top Sensex gainers rising up to 7%.
Sun Pharma was down 0.33% to Rs 473. On Nifty, JSW Steel, Tata Steel and Bajaj Finserv and Bajaj Finance were the top gainers. Number of stocks hitting upper circuit on BSE stood at 232 against 103 falling to their lower circuits today. Market breadth was positive with 1,602 stocks trading higher against 305 lower on BSE. 114 stocks were unchanged.
Investors worldwide were optimistic over slowing of new virus cases, with prospects of more government stimulus amid eased lockdowns across the world. Asian stock markets rebounded Monday after President Donald Trump avoided reigniting a trade war with China amid tension over Hong Kong and the coronavirus pandemic.
Hong Kong's benchmark gained more than 3% and Shanghai and Tokyo rose more than 1%. Hong Kong's Hang Seng index surged 3.2% to 23,689.38 and the Nikkei 225 in Tokyo rose 1.2% to 22,140.01. The Shanghai Composite Index advanced 1.8% to 2,903.20. The Kospi in Seoul added 1.4% to 2,058.42 and Australia's S&P-ASX 200 was 0.9% higher at 5,805.20. Singapore gained 1.4%.
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