Investor wealth today was swollen by over Rs 1 lakh crore on all-round buying in the stock market after credit rating agency Moody’s said India’s outlook was stable and agreement over debt relief package to Greece that boosted markets globally.
The BSE barometer Sensex closed with gains of 305.07 points or 1.65 per cent at 18,842.08 points.
Total investor wealth moved up by Rs 1,06,767 crore to Rs 65,94,019.45 crore.
Buying was so strong that all 13 sectoral indices closed with gains of up to 3.2 per cent. Of the 30 Sensex stocks, 28 scrips registered gains and only NTPC and ONGC closed with minor losses.
“Positive international cues and reaffirmation of stable outlook on India by Moody’s sentimentally aided the rise in the markets,” head of research at Inventure Growth & Securities, Milan Bavishi, said.
Moody’s said today the outlook on its Baa3 rating for India was stable, in part due to the country’s high savings and investment rates.
The Euro zone and International Monetary Fund threw a new lifeline to Greece releasing funds to avert bankruptcy and admitting that help to reduce debt would be needed for years.
