Investor wealth crosses Rs 200 lakh crore for first time as Budget 2021 sparks record Sensex rally

Market cap of BSE-listed firms crossed Rs 200 lakh crore for the first time after Sensex scaled a high of 50,474 in trade today. Investor wealth rose to Rs 200.11 lakh crore against the previous close of Rs 198.43 lakh crore on BSE.

The rise in market wealth comes after FM Nirmala Sitharaman presented a growth-oriented Budget, with higher fiscal deficit limits and privatisation plans that enthused investors.

Buoyed by the Budget, Sensex has gained 4,189 points in last four sessions. The Budget rally has increased investor wealth by Rs 13.99 lakh crore. 

With the latest rally, Sensex and Nifty have erased all pre-Budget losses they suffered after hitting record highs on January 21.

In a pre Budget sell-off, Sensex had lost 3,506.35 points or 7.04 per cent between January 20 and January 29 after investors booked profit as weak global markets led to negative sentiment on Dalal Street. Similarly, Nifty declined 1,010.10 points or 6.89 per cent during the period.

Meawnhile, after a volatile start, market indices turned positive for the fourth straight session post Union Budget 2021 and traded near lifetime highs on Thursday, in line with positive global equities. Sensex rose 150 points at 50,384 and Nifty gained 50 points to 14,840. Sensex and Nifty hit record highs of 50,474 and 14,862 during today's session. ITC, M&M, ONGC, Bajaj Finserv, NTPC were among the top gainers while ICICI Bank, IndusInd Bank, Infosys, HDFC traded as top losers.

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