Traders on Dalal Street continued to shrug off rapidly rising Covid-19 cases and increasing curbs by buying power and financials stocks and sent benchmark indices soaring for the third straight day today(4th Jan.2020).
Mumbai has said it will enforce lockdown if daily virus cases jump above 20,000 while Delhi is going for a weekend curfew. Other states are also enforcing curbs that will likely impact consumer-focused companies.
The 30-share pack Senex advanced 672.71 points or 1.14 percent to close at 59,855.93. Its broader peer NSE Nifty rose 179.55 points or 1.02 percent to 17,805.25.
Thanks to the rally, equity investors grew their wealth by Rs 1.87 lakh crore as the BSE market cap climbed to Rs 271.13 lakh crore. In the past three sessions' market rally, investors' wealth ballooned by Rs 7.75 lakh crore.