Investors have gained Rs 63.6 lakh crore in over seven months after Sensex and Nifty logged a strong recovery from their March-end lows. Sensex and Nifty logged fresh record highs today after outcome of US Presidential election indicated challenger Joe Biden was set to become the next President of the country after defeating Donald Trump in a tight electoral battle.
While Sensex reached record high of 42,566, Nifty hit all-time high of 12,451. The indices hit record highs of 42,273 and 12,430 on January 20 this year.
The rally took the market cap on BSE to a record market cap of Rs 165.46 lakh crore. On March 23, the indices logged their worst decline after rising number of coronavirus cases in India and the resultant lockdown in a majority of states took a heavy toll on the financial markets. While Sensex lost 3,934 points to 25,981 , Nifty closed 1,135 points lower at 7,610.
In the same session, market cap on BSE fell to Rs 101.86 lakh crore on BSE.
Sensex and Nifty have risen for the sixth straight session to hit record high today boosted by strong Q2 earnings and prospects of a new US President who could chart the path of economic recovery in the world's largest economy.
Sensex, Nifty hit all-time highs: Five factors behind the rally