Stock Market / Festive Jackpot for Investors: Indian Market Gains 10 Lakh Crore in 4 Days

Indian stock markets concluded a stellar week, extending their winning streak for the fourth consecutive session on Monday, gifting investors a festive jackpot. Over these four trading days, investors' wealth surged by more than 10 lakh crore rupees, as both the benchmark Sensex and Nifty recorded gains exceeding 2. 75 percent.

Key Drivers of the Rally

Market experts attribute this strong rally to several factors. Positive sentiments in global markets, increased investments by Foreign Institutional Investors (FIIs), a dip in crude oil prices, and a strengthening rupee were the primary catalysts, while these elements collectively boosted investor confidence, propelling the market upwards.

Sensex and Nifty Performance

On Monday, the Sensex closed up 411. 18 points or 0. 49 percent at 84,363. 37, after touching an intra-day high of 84,656. 56. Over the four trading days, the Sensex witnessed an impressive gain of 2,333. 39 points, marking a 2. 84 percent increase. Similarly, the Nifty advanced 133, while 30 points or 0. 52 percent to settle at 25,843. 15, accumulating a gain of 697. 65 points, or 2. 77 percent, in the same period. Strong performances by heavyweights like Reliance Industries and HDFC Bank were. Pivotal, though profit-booking in ICICI Bank slightly capped the overall gains.

Investor Wealth Surges by 10 Lakh Crore

The positive momentum was mirrored across Asian markets, with South Korea's Kospi, Japan's Nikkei, China's Shanghai Composite, and Hong Kong's Hang Seng all closing higher. European markets were also trading in the green, while US markets closed higher on Friday, contributing to the global optimism. Foreign Institutional Investors (FIIs) remained net buyers, purchasing equities worth 308. 98 crore rupees on Friday. Global oil benchmark Brent crude also dipped by 0. 29 percent to 61. 11 dollars per barrel, a favorable development for India's economy. The rally translated into substantial gains for investors, with the BSE market capitalization soaring from 4,59,67,652. 36 crore rupees on October 14 to 4,69,73,800. 90 crore rupees on October 20. This increase signifies a remarkable gain of 10,06,148. 54 crore rupees in investor wealth, truly making it a 'festive jackpot' for the market participants.