D-Street investors turn richer by Rs 2.2 lakh cr. What sparked today’s rally

The Nifty crossed the 18,500 mark for the first time this year, boosted by heavyweight Reliance Industries, which helped Sensex rise by 629 points while Nifty went up 1%. The market capitalisation of all listed companies on BSE also rose by Rs 2.24 lakh crore to Rs 282.57 lakh crore. Medplus gained 16% after reporting a two-fold jump in its Q1 profit, whereas Page Industries fell 9% due to weak demand. Despite US debt default fears, Asian markets were cautiously higher, with Japan leading gains.