Record rally in the market
The market cap of BSE listed companies, which continued in the domestic stock market for five consecutive days, crossed Rs 270 lakh crore in morning trading on Wednesday. During trading, the market cap of BSE listed companies reached a new record high of 2,70,24,154.49 crores. The 30-share BSE benchmark index Sensex (Sensex) reached its all-time high of 60,660.75 due to the rally for the fifth consecutive session on Wednesday.
At the same time, shares of Tata Group’s automobile company Tata Motors rose 19 percent in today’s business. Private equity firm TPG Group is investing Rs 7,500 crore ($ 1 billion) in Tata Motors’ Electric Vehicle (EV) company. going to invest. With this news, the share of Tata Motors rose 18.55 percent to Rs 498.85, which is its 52-week high.
Investors’ wealth increased by 8 lakh crore in 5 days
The BSE benchmark index has gained 1,471.02 points in five trading days. Investors’ wealth has also jumped by Rs 8,03,607.44 crore in five days due to the sharp rise in the market.
A significant trend in the market in the recent past is the firmness in the market despite selling by both FIIs and DIIs. This new trend strengthens the dominance of retail investors and is a success of the buying strategy in the fall.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “We do not know how long this trend will continue and whether this strategy will work. But now the trend is strong and may continue till some event triggers a trend reversal.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.