M-Cap: Investors’ Assets Increased By Rs 3 Lakh Crore
M-Cap: Investors’ assets increased by Rs 3 lakh crore in the initial session, know the reason for this increase.
The wealth of those investing in the equity market increased by Rs 3 lakh crore in early trade on Tuesday. On the next day of the budget, this increase in the wealth of investors has been seen due to the persistent trend in the stock markets.
Analysts say that the budget presented by Nirmala Sitharaman is unprecedented amid the lethargy caused by Covid-19. The 30-share BSE Sensitive Index Sensex rose by 1,553.87 points to 50,154.48 points in early trade.
This brought the total market capitalization of the companies listed on the BSE to Rs 1,95,50,883 crore with a jump of Rs 3,04,169.3 crore in the morning session.
M-Cap: Rahul Sharma, head (technical and derivatives research) at JM Financial Services, said, “The stock markets have seen tremendous growth in the last two days.
The stock markets achieved record gains on the day of the budget and the same continues to this day. Although there may be some profit booking, activities related to certain stocks are expected to continue.
It is noteworthy that after the Budget speech of the Finance Minister, there was a sharp increase in the stock markets.
Sensex, a 30-share sensitive index of the BSE, closed 2,314.84 points or 5 percent higher at 48,600.61 points on Monday. Due to this, there was an increase of Rs 6.34 lakh crore in the wealth of investors on Monday.
According to analysts, this was the biggest boom in the stock markets since 1997 on the budget day.
Gold prices fall in futures trade, silver prices also drop significantly
The effect of reduction in import duty of gold and silver was also seen on the futures prices of these two precious metals on Tuesday.
On the Multi Commodity Exchange (MCX) at 10:30 am in April 2021, the price of delivery gold was trending at Rs 48,351 per 10 grams with a break of Rs 369 i.e. 0.76 percent.
Earlier on Monday, April contract gold price was at Rs 48,720 per 10 grams. On the other hand, the price of delivery gold was down by Rs 351, or 0.72 percent, at Rs 48,459 per 10 grams in June 2021.
In the previous session, the price of gold in the June contract was Rs 48,810 per 10 grams.
