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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Jyotirmath Shankaracharya slams RSS chief for 'politically convenient' position on restoring temples
Haridwar, Dec 22: Shankaracharya of the Jyotirmath Peeth in Uttarakhand Swami Avimukteshwaranand Saraswati on Sunday criticised RSS chief Mohan Bhagwat for his "politically convenient" position on restoring temples.
Avimukteshwaranand said a list of temples destroyed in the past by invaders be prepared and archaeological surveys of the structures be carried out to "restore Hindu pride".
"When he wanted power, he went around speaking about temples. Now that he has power, he is advising not to look for temples," he said on Bhagwat's remarks.
Rashtriya Swayamsevak Sangh (RSS) chief Bhagwat recently said that it was not acceptable that new temple-mosque disputes are raked up after the construction of Ram temple in Ayodhya.
The seer said a lot of atrocities have been committed against the Hindus and their religious places have been destroyed in the past. "If now, the Hindu society wants to restore and preserve its temples, then what is wrong in it?"
The Shankaracharya also criticised Union Home Minister Amit Shah's statement on BR Ambedkar in Parliament that has triggered a huge row between the ruling BJP and the Opposition.
Defending Congress leader Rahul Gandhi, Avimukteshwaranand said the scuffle outside Parliament was due to Shah's remarks on Ambedkar.
He said that there are a lot of people who support Ambedkar's ideology so everyone is using his name for their politics.
Shah has been under fire from several opposition parties since Tuesday over a comment he made referring to Ambedkar during a debate on the Constitution in the Rajya Sabha.
The next day, the BJP leader held a press conference and accused Congress of twisting facts and distorting his comments.
The seer also condemned alleged atrocities on Hindus in Bangladesh and said that the central government should take strict action on the matter. He said that illegal immigrants from Bangladesh living in India should be sent back. He slammed the central government accusing it of lack of action on the matter.
Bhagwat has recently expressed concern over the resurgence of new temple-mosque disputes and asserted that certain individuals, after the construction of Ayodhya's Ram Temple, seem to believe they can become "leaders of Hindus" by raking up such issues.
