The recent market rally has boosted investor wealth by Rs 10.58 lakh crore over the course of three days, with the BSE benchmark surging over 2 per cent and hitting an all-time high on Monday.

Continuing its winning streak for the third consecutive day, the 30-share BSE Sensex rose by 363.20 points or 0.49 per cent to settle at 74,014.55. It reached a record high of 74,254.62 during the day, surging by 603.27 points or 0.81 per cent.

The market capitalisation of BSE-listed companies witnessed an increase of Rs 10,58,034.42 crore to reach Rs 3,93,15,471.18 crore ($4.74 trillion) within the span of three days.

The Sensex gained 1,544.25 points or 2.13 per cent during this three-day period, with equity markets closed on March 29 for Good Friday.

Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, commented, "Markets displayed optimism after a prolonged holiday session last week, as both Sensex & Nifty surged to fresh highs driven by bargain hunting. Despite challenges such as delayed rate cuts and geopolitical tensions, investors remain bullish due to India's strong reform path and expectations of the ruling party's return to power in the upcoming general elections."

Among the major gainers in the Sensex basket were JSW Steel, Tata Steel, UltraTech Cement, NTPC, Larsen & Toubro, and HDFC Bank. However, Titan, Nestle, Bharti Airtel, and IndusInd Bank lagged behind.

In the broader market, the BSE Smallcap index surged by 2.98 per cent, while the midcap index climbed by 1.64 per cent. Realty, telecommunications, metals, commodities, utilities, and industrials were among the sectors that witnessed significant gains.

Vinod Nair, Head of Research at Geojit Financial Services, remarked, "The Indian market has embarked on a strong trajectory at the beginning of the new financial year, supported by expectations of a global rally following a Fed rate cut in June and healthy domestic earnings growth forecast in Q4 FY24. Notably, metal stocks excelled today due to positive Chinese PMI data, indicating economic recovery."

Looking ahead, factors such as the RBI monetary policy, India PMI data, and US non-farm payroll data are expected to influence market direction.

(With PTI inputs)