Mumbai: Indian equity investors witnessed a strong rise in wealth as the stock market extended its winning streak to five consecutive sessions.
During this period, the market capitalisation of all BSE-listed companies increased by Rs 25.27 lakh crore, taking the total valuation to Rs 477.61 lakh crore, or about USD 5.07 trillion.
The sharp rise reflects growing confidence among investors amid improving global conditions and positive market sentiment.
Sensex surges nearly 3,600 points
The benchmark BSE Sensex gained 3,577.43 points, or 4.84%, over the last five trading sessions.
On Thursday, the 30-share index advanced 254.36 points, or 0.33%, to close at 77,409.98.
The continued rally helped the market recover strongly and pushed the valuation of listed companies above the important $5 trillion milestone, which was regained on Wednesday.
Falling crude prices support markets
Market experts said lower crude oil prices played a major role in improving sentiment.
Brent crude, the global oil benchmark, declined 2.23% to $77.78 per barrel.
Lower oil prices are considered positive for India as they help reduce inflationary pressures and improve the country's import bill.
Investor sentiment also improved after reports of a peace agreement between the US and Iran, easing concerns about disruptions in global energy supplies.
Global cues remain supportive
According to Ajit Mishra of Religare Broking, markets remained positive due to supportive global signals and falling crude oil prices.
However, investors remained cautious after the US Federal Reserve indicated that interest rates could stay higher for longer.
Despite this concern, positive global developments continued to support buying interest in equities.
Broad-based participation seen
The rally was supported by gains across several sectors.
Utilities rose 1.76%, hospitals gained 1.62%, services advanced 1.45%, power climbed 1.32% and telecom stocks added 1.12%.
Among Sensex stocks, InterGlobe Aviation, Trent, Bharat Electronics, NTPC, State Bank of India and HDFC Bank led the gains.
Market breadth remained positive, with 2,419 stocks advancing on the BSE compared with 1,814 declining, indicating broad participation in the ongoing market rally.
