Investors richer by Rs 3.52L cr as markets snap losing streak

New Delhi: Equity market investors became richer by Rs 3,52,020.53 crore on Friday as benchmark indices made a strong comeback after breaking six-day losing streak.

Snapping its six-day falling streak, the BSE benchmark index jumped 835.06 points or 2.28 per cent to close at 37,388.66.

Similarly, the NSE Nifty vaulted 244.70 points or 2.26 per cent to finish at 11,050.25.

Following the broad-based recovery, the market capitalisation of BSE-listed firms zoomed Rs 3,52,020.53 crore to Rs 1,52,28,237.75 crore on Friday.

"After a brutal selling in the previous session, markets made a comeback and posted a strong rally of 2.3 per cent, recovering most of the last session's losses. Value buying emerged across the counters," Choice Broking Executive Director Sumeet Bagadia said.

The benchmark had plunged 1,114.82 points or 2.96 per cent to close at 36,553.60 on Thursday.

All the constituents of the Sensex ended in the green, with Bajaj Finserv, HCL Tech, Bharti Airtel, IndusInd Bank, L&T, TCS, ICICI Bank and ONGC rising up to 6.64 per cent.

In the broader market, the BSE midcap and smallcap indices gained up to 2.90 per cent.

A total of 1,988 companies advanced on the BSE and 660 declined, while 170 remained unchanged.

All sectoral indices finished higher. The BSE Telecom index spurted 5.73 per cent, led by Vodafone Idea, following reports that Vodafone has won the arbitration case against India over the latter's Rs 20,000 crore retrospective tax demand.

Teck, IT, auto, capital goods, banks, basic materials and metal indices rose as much as 4.02 per cent. The broader BSE midcap and smallcap indices jumped up to 2.90 per cent.

In rest of Asia, bourses in Tokyo and Seoul settled with gains, while Shanghai and Hong Kong ended in the red.

Stock exchanges in Europe were also trading on a mixed note in early deals.