Market cap of BSE-listed firms reclaim USD 5-trillion mark; investors' wealth surges Rs 22.78 lakh cr

New Delhi: The market capitalisation of BSE-listed companies regained the USD 5-trillion mark on Wednesday, with investors' wealth rising by Rs 22.78 lakh crore, as equity benchmark indices rallied for the fourth straight session supported by softening crude oil prices following a peace deal between the US and Iran.

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In four trading days, the BSE benchmark Sensex has jumped 3,323.07 points, or 4.50 percent, and the NSE Nifty surged 924.1 points, or 3.98 percent.

On Wednesday, the 30-share BSE Sensex climbed 347.14 points, or 0.45 percent, to settle at 77,155.62. The 50-share NSE Nifty rallied 96.55 points, or 0.40 percent, to end at 24,085.70.

In four days, investors' wealth surged Rs 22.78 lakh crore taking the market capitalisation (mcap) of BSE-listed firms to Rs 4,75,12,374.27 crore (USD 5.03 trillion).

"The sharp decline in crude oil prices has improved sentiment, reducing concerns around inflation and external sector pressures. Sustained lower crude prices are positive for oil marketing companies and broader market sentiment, given their favourable impact on inflation, fuel costs and India's current account balance," Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.

Among the 30 Sensex firms, Trent jumped the most, by 7.06 percent. Bharat Electronics, Eternal, Tata Steel, Infosys, Tech Mahindra, and Bharti Airtel were also among the winners.

Bajaj Finserv, Axis Bank, Kotak Mahindra Bank, and Maruti were among the laggards.

Brent crude, the global oil benchmark, traded around USD 79.10 per barrel.

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"Continued weakness in crude oil prices, driven by easing geopolitical tensions around the Strait of Hormuz, has kept investor sentiment buoyant," Vinod Nair, Head of Research, Geojit Investments Limited, said.

Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said, "The easing of geopolitical tensions has helped unwind the risk premium that weighed on markets during the conflict, providing a favourable backdrop for equities."

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