Sharp rally in markets makes investors richer by ₹16.15 lakh crore

Dalal Street investors became richer by ₹16.15 lakh crore on Monday as markets skyrocketing nearly 4%, after India and Pakistan announced reaching an understanding to stop all firings and military actions on land, air and sea.

Also, a trade agreement between the US and China added to the markets' optimism.

After starting the trade on an optimistic note, the 30-share BSE benchmark gauge Sensex further jumped 2,975.43 points or 3.74% to settle at 82,429.90. During the day, it rallied 3,041.5 points or 3.82% to a high of 82,495.97.

The market capitalisation of BSE-listed firms jumped by ₹16,15,275.19 crore to ₹4,32,56,125.65 crore (USD 5.05 trillion) in a single day.

From the Sensex firms, Infosys jumped 7.91%. HCL Tech, Tata Steel, Eternal, Tech Mahindra, Tata Consultancy Services, Axis Bank, ICICI Bank, Bajaj Finance, NTPC and Reliance Industries were the other major gainers.

Sun Pharma and IndusInd Bank were the only laggards from the blue-chip pack.

The BSE smallcap gauge surged 4.18% and midcap index jumped 3.85%.

All sectoral indices ended higher. IT zoomed 6.75%, BSE Focused IT (6.74%), realty (5.87%), metal (5.24%), teck (5.21%), utilities (5.07%), power (4.82%) and industrials (4.24%).

As many as 3,545 stocks advanced while 576 declined and 133 remained unchanged on the BSE.