MUMBAI: A unexpectedly clear mandate to the Congress-led UPA government has made Dalal Street investors richer by over Rs 7 lakh crore.
Since the results of the Lok Sabha elections were announced on May 16, BSE's market capitalisation has increased by Rs 7.04 lakh crore to Rs 44.8 lakh crore now. In other words, in the last seven sessions, on an average, investor wealth has increased by Rs 1 lakh crore. And this is after BSE's market capitalisation declined by a little over Rs 1.1 lakh crore in Tuesday's sliding market.
An analysis of prices of group A and B stocks on BSE also showed that in those seven sessions, four stocks Kaushalya Infra, UB (Holdings), Jindal Capital and Evernnon Systems have at least doubled from where they were on May 15, the day before the poll results were out.
There are 1,410 stocks in BSE's A and B groups, of which 1,372 have given positive returns in the last seven sessions. Of these, 19 have given returns of 75% or more and 165 have returned of over 50%. On the other side of the spectrum, there are 38 stocks that gave negative returns, with three down over 10% in the last seven session. Among sensex stocks, Reliance Infrastructure, with a gain of 37.2% to Rs 1,123, tops the table. Among laggards were Bharti Airtel, TCS and Infosys.
(Source: TOI)
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