SENSEX rallies over HDFC , HDFC Bank merger; investors turn rich by Rs 4.5 lakh crore

With the domestic equity market surging over 2 per cent, primarily on the proposed merger between HDFC and HDFC Bank, investors struck gold and turned rich by more than Rs 4.5 lakh crore on Monday.

After the announcement of merger between HDFC and HDFC Bank, the 30-share key index Sensex surged 1,335 points, a whopping 2.25 per cent, to reclaim the 60,000-level, boosted by intense buying in banking and financial stocks.

The market capitalisation of BSE-listed companies, also an indicator of notional wealth of investors, surged to Rs 2,72,46,213.62 crore. This marks a gain of Rs 4,57,826.69 crore compared to the market valuation of Rs 2,67,88,386.93 crore at the close of trading on the BSE on Friday.

The BSE data indicates that as many as 179 stocks touched their 52-week highs.

All BSE sectoral indices mustered gains, led by finance (4.25 per cent), bankex (3.45 per cent), power (3 per cent), utilities (2.93 per cent) and capital goods (1.79 per cent).

In the broader markets, the BSE midcap and smallcap gauges gained as much as 1.68 per cent.