Investor wealth swells by Rs 1.76 lakh cr as markets end at new closing high

New Delhi: Investor wealth Monday rose by Rs 1.76 lakh crore as the markets closed at a new  lifetime peak.

Led by the sharp rally in the equity market, the market capitalisation (m-cap) of BSE-listed companies surged Rs 1,76,402.37 crore to Rs 1,56,14,416.92 crore.

The 30-share index zoomed over 553.42 points or 1.39 percent to hit its lifetime closing peak of 40,267.62.

Similarly, the broader NSE Nifty closed above 12,000 mark for the first time. The index spurted over 165.75 points or 1.39 percent to 12,088.55.

Meanwhile, foreign institutional investors bought equity worth Rs 676.15 crore on Friday, and domestic institutional investors purchased shares to the tune of Rs 394.09 crore, provisional data available with stock exchanges showed.

Analysts believe that hopes of a rate cut by the RBI in its bi-monthly policy on Thursday also lifted investors' sentiments. The MPC headed by RBI Governor Shaktikanta Das has begun deliberations to firm up the second bi-monthly monetary policy of the fiscal.