Investors get richer by Rs. 5.8L crore after today's rally
What's the story
On December 4, the Nifty50 and Sensex reached their lifetime highs, following the Bharatiya Janata Party's (BJP) victories in three major state elections in Rajasthan, Madhya Pradesh and Chhattisgarh.
The combined market capitalization of the firms listed on the Bombay Stock Exchange (BSE) surged to approximately Rs. 343.5 lakh crore from the previous session's Rs. 337.7 lakh crore, boosting investors' wealth by around Rs. 5.8 lakh crore within one trading day.
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Nifty50, Sensex record new lifetime highs
During the session, the Nifty50 surged to a new high of 20,702.65, and the Sensex reached its new peak at 68,918.22.
Eventually, the Nifty 50 concluded at 20,686.80, marking a 2.07% increase or a gain of 419 points, while the Sensex closed with a 2.05% gain, rising by 1,384 points to settle at 68,865.12.
Analysts believe these outcomes have boosted expectations of the BJP retaining power in the general elections next year, ensuring policy continuity and reforms.
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Midcap and Smallcap indices also hit fresh highs
The BSE Midcap and Smallcap indices also hit new highs of 35,124.23 and 41,221.91, respectively.
The BSE Midcap index closed 1.19% higher at 34,999.76, while the Smallcap index ended 1.20% higher at 41,051.01.
Nifty Smallcap 100 index closed 1.39% higher at 14,437.70 and the Nifty Midcap 100 index ended 1.24% higher at 43,918.60.
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Top gainers and losers in Nifty index
Banking, financial, and oil & gas stocks showed strong upward momentum on Monday.
The Nifty Bank index surged by 3.61%, while the Nifty PSU Bank and Private Bank indices soared by 3.85% and 3.54%, respectively.
Nifty Financial Services marked a 3.23% rise, and the Nifty Oil & Gas index gained 3.15%.
However, only two indices, Nifty Media (down 0.78%) and Nifty Pharma (down 0.18%), closed in the red.
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Stock-specific gainers and losers
Eicher Motors, Adani Enterprises, and Adani Ports were the top gainers in the Nifty50 index, climbing by 7.45%, 6.78%, and 6.15%, respectively.
On the other hand, HDFC Life, Britannia Industries, and HCL Tech were the top losers, dropping by 0.83%, 0.74%, and 0.13% respectively.
Out of the Nifty50 stocks, 44 ended with gains while six closed with losses.