Indices snap losing run, Sensex rises 650 points

Investors become richer by ₹3.12 lakh crore

- KISHOR KADAM

THE SENSEX SNAPPED its three-day losing streak, ending 650.39 points (0.79%) higher at 83,277.15, largely driven by buying in power, realty, and bank shares amid mixed global cues.

The Nifty broke its two-day losing run, gaining 211.65 points (0.83%) to close at 25,682.75.

While the market ended positive, it opened with a negative gap following last week’s proposal by the Reserve Bank of India that restricted funding of banks to capital market players. After remaining subdued for the major part of trading session, the benchmarks bounced back in the latter half on back of selective buying in index heavyweights. Investor wealth rose by ₹3.12 lakh crore to ₹468.58 lakh crore, after eroding nearly ₹10 lakh crore over the previous two sessions.