MUMBAI: Turning stock market into a money- making machine, the investors added well in excess of Rs 10,000 crore in every second of trade today — a frenzy they must have wished continued beyond just a minute.

However, the hopes are still not dashed completely as Dalal Street is pinning on another spectacular performance tomorrow with an eye on 15,000-points milestone for Sensex, even if it does not match today’s historic gain of 2,111 points.

During 60 seconds of trade today — first for 30 seconds at the opening and then another 30 seconds after trade resumed at 1155 hours — investors’ wealth measured in terms of total market capitalisation of all the listed companies grew by about Rs 6,50,000 crore. This is the biggest ever gain in the history of stock market, not only in India, but possibly in the entire world.

This sharp surge, the best ever post-polls performance of stock market in India, comes in sharp contrast to a huge loss suffered after the last general elections in 2004.

Election results had been announced during trading hours on May 13, 2004 and Sensex had ended up 0.8 per cent after highly volatile trade, but lost over 300 points the next day. In following trading session on May 17, 2004 Sensex plunged 11.1 per cent, its biggest drop in 12 years.

The Sensex had lost over 894 points in the two days after the election results were out in May 2004.

Meanwhile, today the total investors’ wealth, measured in terms of combined market-cap of all the listed companies, has increased by over Rs 6,56,477 crore in a minute — in the first 30 seconds and then after resumption trading in the afternoon — to Rs 44,63,420.97 crore.

The 30-share Bombay Stock Exchange Sensex zoomed 1,305.97 points at 13,479.39, hitting the upper circuit with seconds of opening of trade, following which trading was halted for two hours. After trading was resumed the Sensex soared 806 points at 14,284.21 following which trading was halted for the day.

Further, the 30 Sensex companies, which account for over 47 per cent of the total market-cap of all the companies, saw their combined market valuation rise by over Rs 3.16 lakh crore today.

source: Business-Standard

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