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Terrific Thursday: Investor wealth soars by Rs 1.83 lakh cr

PTI     September 19, 2013
As the BSE Sensex witnessed a sharp surge of nearly 700 points on the back of US Federal Reserve's decision to stick to its stimulus package and strengthening rupee against the dollar, investors became richer by Rs 1.83 lakh crore.

The 30-share index of the Bombay Stock Exchange ended the trade at 20,646.64, up 684.48 points or 3.43 per cent, the biggest gain since September 10 when the index had rallied 727 points.

Similarly, NSE's Nifty index settled with 3.66 per cent or 216.10 points gain at 6,115.55.

Among the BSE 13 sectoral indices, 12, barring IT sector, ended the day in green with gains in the range of 0.74-6.78 per cent.

From the 30-Sensex constituents, 28 stocks saw rise, with SBI leading the pack, surging 8 per cent.

Analysts said market sentiment turned extremely bullish on a flurry of buying by funds driven by strengthening rupee and a firming global trend after the US Federal Reserve surprised markets by sticking to its massive bond-buying programme.

In the process, the investor wealth rose by a whopping Rs 1.83 lakh crore to Rs 66.53 lakh crore.

"Nifty opened on a bullish note following the outcome of US Federal Reserve meeting, in which it put on hold the decision to taper stimulus programme and continue with its bond-buying plan per month as before. For the investors this came as a pleasant surprise and strong buying was witnessed in rate sensitive sectors like banking and realty," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

As many as 62 stocks touched their 52-week high, while 113 scrips hit their one-year low level. Overall, 1,430 stocks rose, while 997 scrips tanked on BSE.

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