The rally in the stock market has added a whopping Rs 2.51 trillion to investors’ wealth last week,accounting for over one-third of the total Rs 7 trillion gains made by investors since October when the Sensex had plunged below 8,000 levels.
The total investors’ wealth,measured in terms of combined market capitalisation of all the listed companies,has increased by over Rs 7,00,000 crore to Rs 31,46,000 crore on Friday.
The total market capitalisation had been Rs 24,10,256 crore on October 27,when the benchmark Sensex had dropped to a 52-week low of 7,697 points.
From the beginning of the year,the benchmark 30-share index Sensex has made gradual recovery and the sharp surge last week has led the index to cross the 10,000 level again.
The counter rally in the market last week saw the Sensex gaining over 1,000 points,amid the benchmark index making its biggest single day gain.
Interestingly,the sharp gain last week added a whopping over Rs 2,51,429 crore to the total investors wealth,regaining a large part of the lost ground during the meltdown.
Further,the 30-Sensex companies,which account for over 47 per cent of the total marketcap of all the companies,saw their combined market valuation rise by over Rs 1.51 crore in the week ended March 27.