Equity investors become richer by Rs 15.18 lakh crore in five days of market rally
New Delhi, Dec 5: Investors' wealth surged Rs 15.18 lakh crore in five days of market rally that took the BSE benchmark Sensex up over 3 per cent.
In the past five trading days, the BSE barometer has jumped 2,722.12 points or 3.44 per cent.
Rallying for the fifth day running on Thursday, the 30-share benchmark Sensex jumped 809.53 points or 1 per cent to settle at 81,765.86. During the day, it soared 1,361.41 points or 1.68 per cent to 82,317.74.
The market capitalisation of BSE-listed firms surged Rs 15,18,926.69 crore to Rs 4,58,17,010.11 crore (USD 5.41 trillion) in the last five sessions.
The NSE Nifty surged 240.95 points or 0.98 per cent to settle at 24,708.40 on Thursday.
"Nifty surged for the 5th straight day, closing 0.98 per cent higher at 24,708, despite intraday volatility. It joined global markets in optimism, following new highs on the Dow, S&P 500, and Nasdaq. Bank Nifty also gained 0.63 per cent, while IT stocks rallied 1.95 per cent," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
From the 30-share pack, Tata Consultancy Services, Infosys, Titan, Bharti Airtel, Bajaj Finance, ICICI Bank, Tech Mahindra and HCL Technologies were the biggest gainers.
NTPC, Asian Paints and IndusInd Bank were the laggards.
As many as 2,141 stocks advanced while 1,825 declined and 117 remained unchanged on the BSE.
"Indian equities staged a strong rebound during the day, fuelled by robust buying in heavyweight stocks across various sectors and positive market sentiment. The upmove was further supported by Foreign Institutional Investors (FIIs), who turned net buyers, contributing over Rs 5,000 crore in the past two sessions," Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.
Among sectoral indices, BSE Focused IT soared the most 1.96 per cent, while teck jumped 1.92 per cent, IT by 1.81 per cent and telecommunication 0.95 per cent. Bankex (0.68 per cent) and consumer durables (0.66 per cent) also advanced.
BSE services and realty emerged as the laggards.
The BSE midcap gauge climbed 0.27 per cent and the smallcap index went up by 0.16 per cent.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,797.60 crore on Wednesday, according to exchange data.
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K'taka govt, Taiwan's Allegiance Group sign MoU to establish industrial technology innovation park
Bengaluru (PTI): Karnataka government on Friday signed an MoU with Allegiance International Co Ltd of Taiwan to establish an Indo-Taiwan Industrial Technology Innovation Park (ITIP) in the state, with a proposed investment of around Rs 1,000 crore.
The MoU was signed by Rahul Sharanappa Sankanur, Director, Department of Electronics, IT, BT and Lawrence Chen, VP, Allegiance Group in the presence of Chief Minister Siddaramaiah, Minister for Electronics, IT & BT Priyank Kharge, and senior officials.
The project will be undertaken by the Allegiance Group with a proposed investment of around Rs 1,000 crore, leading to the creation of about 800 direct jobs via the companies setting up operations in ITIP over a period of 5 years, the IT&BT Minister's office said in a statement.
The ITIP will serve as a dedicated hub for Taiwanese companies in electronics and semiconductors, fostering advanced manufacturing, R&D, and innovation. This collaboration aims to strengthen Karnataka's position as India's leading destination for Electronics System Design and Manufacturing (ESDM) and accelerate the growth of the semiconductor ecosystem in the state.
Key highlights of the MoU include establishment of a world-class industrial park to house Taiwanese firms in electronics and semiconductor sectors; development of a robust supply chain ecosystem for components, PCBs, and chip design; creation of high-value jobs and skill development programmes in collaboration with academic institutions; and promotion of technology transfer and global best practices to enhance India's competitiveness in electronics manufacturing.
CM Siddaramaiah said this partnership marks a significant step towards realising Karnataka's vision of becoming a global hub for electronics and semiconductor innovation.
"The ITIP will attract cutting-edge technology and investments, creating opportunities for our youth and strengthening India's position in the global value chain," he said.
Minister Priyank Kharge said Karnataka has led India's technology revolution and continues to dominate in innovation, deep-tech talent, and semiconductor design.
"This partnership will accelerate our efforts to build a robust electronics and semiconductor ecosystem. We are committed to creating a level playing field and ensuring that Karnataka remains the preferred destination for global investors in advanced technologies," he said.
Lawrence Chen said, "We are excited to collaborate with Karnataka, a state known for its technology leadership. The ITIP will be a catalyst for Taiwanese companies to expand in India and contribute to the growth of the semiconductor and electronics ecosystem."
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