Markets Bounce Back: Investors' Wealth Soars Rs 4.21 Lakh Crore

On Monday, investors' wealth surged by Rs 4.21 lakh crore as markets recovered from a five-day decline. The BSE Sensex witnessed a notable rise, driven by short covering before the month's end and positive results from banks like ICICI Bank. Asian markets also showed an upward trend.

In a remarkable turnaround, investors' wealth surged by Rs 4.21 lakh crore on Monday as the markets rebounded after five consecutive days of decline. The BSE Sensex climbed 602.75 points, equivalent to a 0.76% increase, terminating at 80,005.04. At its peak during the day, it had soared 1,137.52 points or 1.43%, reaching 80,539.81.

A senior executive from Mehta Equities Ltd noted that recent overvaluation concerns had prompted a substantial market correction last week. The recovery seen today was partly due to short covering ahead of the monthly expiry, although a pervasive cautious sentiment remains.

Notable gains were recorded by ICICI Bank, Adani Ports, JSW Steel, and several others in the Sensex pack. Meanwhile, Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, ended the day on a positive note, contributing to an uplifting global investor sentiment.

(With inputs from agencies.)