Sensex surges 672 points, investors get richer by Rs 5 lakh crore in 2 days

The Indian equities markets witnessed a strong rally for the third consecutive session on Tuesday with benchmark Sensex surging nearly 700 points led by broad-based buying support.

Investors have become richer by nearly Rs 5 lakh crore in just two days of trading in the new calendar year.

The 30 stock S&P Sensex of the Bombay Stock Exchange closed at 59,855.93 points, which is 672.71 points or 1.14 per cent higher from its previous day's close at 59,183.22 points.

Earlier the Sensex opened in the positive at 59,343.79 points and surged to a high of 59,937.33 points. The benchmark Sensex also briefly slipped into negative in the early morning trade. The index touched a low of 59,084.40 points in the intra-day.

The broader Nifty 50 of the National Stock Exchange surged 1.02 per cent or 179.55 points to 17,805.25 points. The Nifty 50 touched a high of 17,827.60 points and low of 17,593.55 points in the intra-day.

This was the third consecutive sessions of strong rally in the Indian equities markets. The benchmark Sensex has zoomed nearly 2000 points. The Sensex had gained 1.60 per cent or 929.40 points on Monday, the first trading session of the new calendar year. The Nifty 50 had gained 1.57 per cent or 271.65 points on Monday.

Power, banking, and energy stocks led the rally on Tuesday. NTPC zoomed 5.48 per cent to Rs 132.90. Power Grid Corporation surged 2.73 per cent to Rs 210.50. The index heavyweight Reliance Industries Limited surged 2.22 per cent to Rs 2457.75.

Banking witnessed strong rally led by State Bank of India. SBI surged 2.69 per cent to Rs 483.50. Axis Bank climbed 1.75 per cent to Rs 708.50. Kotan Bank rose 1.54 per cent to Rs 1852 and ICICI Bank closed 1.07 per cent higher at Rs 772.90.

There was broad-based buying support. Only five of the 30 scrips that are part of the benchmark Sensex closed in the red.

Sun Pharma fell 1.21 per cent to Rs 837.95. IndusInd Bank dropped 0.90 per cent to Rs 904.20. UltraTech Cement 0.85 per cent down at Rs 7655.80; Dr Reddy's Laboratories down 0.36 per cent at Rs 4835.70 and Infosys 0.05 per cent down at Rs 1896.25 were the only Sensex losers. .

( With inputs from ANI )

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