Equity investors became richer by Rs 2.4 lakh crore as key benchmark indices Sensex and Nifty scaled new peaks in morning trade on Tuesday, amid persistent foreign fund inflows.
Analysts said foreign institutional investors have reversed their selling strategy and have been consistent buyers during the last seven days.
This momentum is a reflection of institutional confidence in the Indian market, they said.
The 30-share BSE Sensex jumped 169.94 points, or 0.25 per cent, to a new peak of 69,035.06 in early trade. The broader index Nifty also climbed 52.60 points, or 0.25 per cent, to hit its all-time high of 20,739.40. Following the rally, the market capitalisation of BSE-listed firms jumped by Rs 2.4 lakh crore to Rs 345.88 lakh crore in morning deals on Tuesday, from Rs 343.48 lakh crore on Monday.
Among the Sensex firms, Adani Enterprises and Adani Ports sustained their gaining momentum and traded higher by 4.40 per cent and 4.37 per cent, respectively. BPCL, Axis Bank, Mahindra & Mahindra and SBI were the other major gainers.
As many as 20 stocks of the 30-share benchmark were trading in the positive territory. Among Nifty stocks, 29 shares registered gains. In six trading sessions, investors' wealth has gone up by Rs 17.16 lakh crore.
In the broader market, the BSE midcap gauge jumped 0.54 per cent and smallcap index climbed 0.50 per cent. The combined market valuation of all listed companies on the BSE reached the USD 4 trillion-milestone for the first time ever on November 29.
The market capitalisation of listed companies on the NSE has surpassed the USD 4 trillion (Rs 334.72 trillion) mark for the first time ever on Friday. -- PTI