Investors' wealth increased by Rs 28.66 lakh crore!!!
Investors' wealth increased by Rs 28.66 lakh crore!!!Investors in the indian stock market will always remember this week. Investors have seen their investments sinking this week and then there was a strong jump in their wealth. On june 4, 2024, on the counting day of the lok sabha elections, investors suffered a loss of Rs 31 lakh crore due to the ruling party bjp not getting a majority. But after that, in the next three trading sessions, investors made strong profits due to a sharp recovery in the market and in three days, investors' wealth jumped by Rs 28.66 lakh crore.Due to the exit poll estimates, there was a strong rally in the market on Monday, june 3 and the Sensex - Nifty reached a lifetime high. The market cap also reached the level of Rs 426 lakh crore for the first time. But on june 4, there was a tsunami of decline in the market when the bjp did not get a majority in the election results. On that day, the Sensex closed at 72,079 points with a fall of 4389 points and the Nifty closed at 21884 points with a fall of 1379 points.But when it became clear that the nda government is going to be formed at the center with the support of allies under the leadership of prime minister narendra modi, the market made a great comeback. And in the last three days, the Sensex has jumped by 4614 points and the Nifty by 1400 points. Today, in a single session, the Sensex has jumped by 1618 points and the Nifty by 470 points. The market cap of the stocks listed on the BSE has also increased from Rs 394.83 lakh crore to Rs 423.49 lakh crore. In three days of rise, the valuation of the indian stock market has again crossed 5 trillion dollars.At present, the market cap of the indian stock market is now only Rs 2.50 lakh crore less than its lifetime closing high.On Sunday, june 9, narendra modi will take oath as prime minister for the third consecutive time and on the same day, other members of his cabinet will also take oath andafter that the portfolios will be distributed. After that, it is believed that this boom in the market may continue in the next week.