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Investors go richer by Rs 6.5 lakh cr in a minute

Investors have become richer by a whopping Rs 6.5 lakh crore in just a minute as the Sensex saw a historic 2,111 point rise.

Written by Agencies | Mumbai |
May 18, 2009 4:39:03 pm

Investors have become richer by a whopping Rs 6.5 lakh crore in just a minute as the Bombay Stock Exchange Sensex saw a historic 2,111 point rise to the 14,000 level as the markets cheered the decisive win of the ruling UPA government in the Lok Sabha elections.

Investor wealth,measured in terms of the combined market capitalisation of all the listed companies,increased by over Rs 6,56,477 crore in a minute — in the first 30 seconds and then after the resumption of trading at 1155 hours — to Rs 44,63,420.97 crore.

The 30-share Bombay Stock Exchange Sensex zoomed 1,305.97 points at 13,479.39,hitting the upper circuit within seconds of opening of trade,following which trading was halted for two hours. After trading resumed the Sensex soared 806 points at 14,284.21,following which trading was halted for the day.

Further,the 30 Sensex companies,which account for over 47 per cent of the total market capitalisation of all the firms,saw their combined market valuation rise by over Rs 3.16 lakh crore today.

The combined market capitalisation of the 30 blue-chip stocks rose to Rs 21,53,590.09 crore on Monday,from Rs 18,36,841.33 crore at the end of trade on Friday.

Reliance Industries was the major contributor to Monday’s increase in market capitalisation for regaining the 14,000 level along with other heavy-weight stocks like BHEL and Bharti Airtel.

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