Investor wealth jumps over Rs 10.48 lakh crore in two days of Budget-driven market rally
The BSE benchmark jumped 1,197.11 points or 2.46 percent to close at 49,797.72 on Tuesday. During the day, it zoomed 1,553.87 points to 50,154.48. PTI February 02, 2021 / 07:33 PM IST
Investor wealth zoomed over Rs 10.48 lakh crore in two days as Budget-driven market euphoria continued to charge bulls on Tuesday.
The BSE benchmark jumped 1,197.11 points or 2.46 percent to close at 49,797.72 on Tuesday. During the day, it zoomed 1,553.87 points to 50,154.48.
Tracking the extremely positive investor sentiment, the market capitalisation of BSE-listed companies jumped Rs 10,48,253.99 crore to Rs 1,96,60,898.02 crore in two days of market rally.
Investor wealth further jumps over Rs 3 lakh crore as Budget brings bulls back to markets PTI
The BSE benchmark zoomed 1,553.87 points to 50,154.48 during the morning trade.
Tracking the extremely positive investor sentiment, the market capitalisation of BSE-listed companies jumped Rs 3,04,169.3 crore to Rs 1,95,50,883 crore in morning trade.
“It has been a picture perfect rally in the last two sessions with the broader indices clocking record Budget Day gains and extending them today as well. Although some profit-booking can be expected, but we expect stock-specific action to continue,” said Rahul Sharma, Head – Technical & Derivatives Research, JM Financial Services.
Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61 Monday. Investors became richer by over Rs 6.34 lakh crore Monday as markets gave a big shout-out to the Budget 2021-22.
BUY IRCTC | TARGET: Rs 1,550 | STOP LOSS: Rs 1,409 The stock has breached a falling channel with higher than average volumes on the daily chart. It has also surpassed its 50-DMA which will now act as an immediate support. The momentum indicators and oscillators have reached the oversold territory and are showing signs of reversal. Based on the above rationale, we can expect the stock to make an attempt to fill the gap which is placed near 1,550 levels.
BUY HINDPETRO | TARGET: Rs 235 | STOP LOSS: Rs 214 The stock has formed a bullish engulfing candlestick pattern along with a tweezer bottom at 214 levels on the daily chart. It has reached the lower band of the Bollinger band which is likely to act as an immediate support. It is trading well above its short-term and long-term moving averages. The momentum indicator and oscillators are also very well in the buy mode on the weekly scale, which hints of a strong reversal on the higher side.
Read more about Stock calls by Nilesh Jain of Anand Rathi: Buy Pidilite, Godrej Industries on Business Standard. Pidilite s stock is in a secular uptrend and has formed a bullish Harami candlestick pattern on the daily chart
Share Market Highlights: Sensex ends 746 points lower, Nifty at 14,371; Asian Paints, SBI, HDFC top losers January 22,2021 16:00 IST
Sensex, Nifty Highlights on January 22: Market indices continued yesterday s fall and closed at day s low on Friday amid profit booking, in line with weak global equities. Sensex ended 746 points lower at 48,878 and Nifty closed 218 points lower at 14,371. HDFC, ONGC, ITC, L&T, RIL, NTPC were among the top losers today, while Bajaj Auto, Maruti, M&M, TCS, HUL were among the top gainers on Sensex pack. Yesterday, Sensex closed 167 points lower at 49,624, Nifty fell 54 points to end at 14,590. Globally, markets traded deep in red today, signalling profit booking amid heavy valuations, given ample liquidity, high earnings growth and positive geopolitical cues.