Investors’ wealth surges by INR 9.41 lakh crore as stock markets rebound

Investors’ wealth surged by INR 9.41 lakh crore on Wednesday as benchmark indices rebounded sharply amid hopes of renewed diplomatic engagement between the US and Iran.

The 30-share BSE Sensex jumped 1,263.67 points or 1.64 per cent to settle at 78,111.24. During the day, it zoomed 1,422.85 points or 1.85 per cent to 78,270.42.

The market capitalisation of BSE-listed companies jumped by INR  9,41,461.6 crore to INR  4,58,55,016.77 crore ($4.91 trillion). “Optimism was driven by expectations of renewed US-Iran negotiations, which helped ease concerns around potential oil supply disruptions and triggered a decline in crude prices. “Market sentiment strengthened further after US President Donald Trump indicated that a second round of discussions could be on the table,” according to Bajaj Broking Research.US President Donald Trump has said that the war with Iran is “close to over,” asserting that if he pulled up stakes right now, it would take Tehran 20 years to rebuild the country.

“I think it’s close to over, yeah. I view it as very close to being over,” Trump told Fox News in an interview that will be telecast later Wednesday.

As per a US media report on Tuesday Trump said that a second round of talks with Iran could be held in Islamabad “over the next two days.