Investors get richer by Rs 2.7 lakh cr as Sensex surges; BSE m-cap hits Rs 250 lakh cr

Barring select names in the media sector, buying was broad-based. Metal, telecom and financial services stocks were among the biggest gainers. Thanks to this, equity investor wealth rose by Rs 2.7 lakh crore.

The 30-share pack Sensex rose 662.63 points or 1.16 per cent to close at 57,552.39. Its broader peer NSE Nifty climbed 201.15 points or 1.19 per cent to 17,132.20. Both indices climbed fresh peaks.

“Stock markets set new record highs as investors ended August in a buoyant mood, confident of an ongoing economic recovery and that the Federal Reserve’s eventual paring back of its stimulus would not knock asset prices anytime soon,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

Market at a glance

• Most sugar stocks gain as global sugar prices hit 4-year peak
• Bharti Airtel surges another 7 per cent after announcing rights issue
• Hindalco up 5 per cent as international aluminium prices at 10-year peak
• IEX jumps 5 per cent after inclusion into F&O segment
• India VIX, a barometer of volatility, rises 9 per cent to above 14-level

Among the bluechip names, Bharti Airtel was the top gainer for another day, rising 6.70 per cent. Bajaj Finance, Hindalco, Eicher Motors, Shree Cement, Indian Oil and Bajaj Finserv were the other gainers.

Tata Motors was the top loser in the Nifty pack, falling 1.49 per cent. Nestle India, IndusInd Bank, Reliance Industries, Bharat Petroleum, Power Grid and UPL were others that ended in the red.

Broader market indices ended higher but underperformed their headline peers. Nifty Smallcap advanced 0.68 per cent and Nifty Midcap climbed 0.62 per cent. Nifty 500, the broadest index on NSE, ended 1.1 per cent higher.

CAMS, Century Ply, Thyrocare Technologies, Whirlpool of India, JSW Energy and Adani Total Gas were top gainers from mid and smallcap indices, climbing in the range of 5-8 per cent.

Bharat Heavy Electronics, Bank of India, RBL Bank, Sterling Wilson Solar, Vakrangee and Edelweiss Financial Services were major losers from broader market space, falling in the range of 2-4 per cent.

Barring Nifty Media that fell 0.12 per cent, all sectoral indices on the NSE ended the day in green. Nifty Metal was the top gainer, rising 1.54 per cent. Nifty IT and Nifty Financial Services were other major gainers.

Market breadth was in favour of the losers as 1,571 stocks ended in the green, while 1,623 names settled with cuts. As many as 205 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 21 names hit 52-week lows, mostly from the microcap space. About 310 stocks hit upper circuit limits and 215 lower circuit limits.