1. Thursday’s sell-off wipes off Rs 1.66 lakh crore of BSE investors’ wealth

Thursday’s sell-off wipes off Rs 1.66 lakh crore of BSE investors’ wealth

The heavy sell-off in the domestic equity markets on Thursday wiped off Rs 1.64 lakh crore of investors’ wealth as market capitalisation of BSE-listed companies fell to Rs 1,11,86,317 crore on October 13 from Rs 1,13,50,522 crore on October 10.

By: | New Delhi | Published: October 13, 2016 4:33 PM
bse sensex, nse nifty The heavy sell-off in the domestic equity markets on Thursday wiped off Rs 1.64 lakh crore of investors’ wealth as market capitalisation of BSE-listed companies fell to Rs 1,11,86,317 crore on October 13 from Rs 1,13,50,522 crore on October 10. (Photo: PTI)

The heavy sell-off in the domestic equity markets on Thursday wiped off Rs 1.66 lakh crore of investors’ wealth as market capitalisation of BSE-listed companies fell to Rs 1,11,83,770 crore on October 13 from Rs 1,13,50,522 crore on October 10. Market sentiments were subdued since morning as investors preferred to trim bets after the minutes of the US Federal Reserve’s September meeting indicated a possible rate hike this year. Tepid global markets, weak rupee and unimpressive macroeconomic data too dampened market sentiments. Later, the BSE Sensex closed 439.23 points, or 1.56 per cent down at 27,643.11, while Nifty 50 index settled 1.56 per cent down at 8573.35. Market participants also remained cautious ahead of monthly inflation data based on consumer price index (CPI) for September due later in the day and wholesale price index (WPI) due on Friday.

On the National Stock Exchange, 20 stocks hit their fresh 52-week low in Thursday’s trade. The list include stocks such as Acropatel Technologies, Bharati Defence and Infrastructure, Birla Cotsyn, Idea Cellular, Rasoya Protein, Tamilnadu Telecommunications, Tata Elxsi etc.

On the other hand, Prime Securities, Tata Communications, Tamil Nadu Newsprint & Papers, United Breweries (Holdings), TTK Prestige, GAIL (India), Petronet LNG are among the 61 stocks that hit their fresh 52-week high in today’s trade.

On Thursday’s market movement, Sanjeev Zarbade, vice president – PCG research, Kotak Securities said, “The market ended sharply in the red following weak global cues. Investors were also cautious ahead of TCS (due today) and Infosys (due tomorrow) Q2 results. Apart from this, sentiment was also bit cautious after Fed minutes on Wednesday showed that three members of the Federal Open Market Committee dissented and called for a rate hike. Among Asian markets, data showed China’s exports tumbled nearly 10 percent year-on-year in dollar-terms, and imports dipped 1.9 percent from the previous year. Commodities sold off following the weak trade data from China.”

Please Wait while comments are loading...

Go to Top