With stock markets falling heavily in the intraday trade on Tuesday on account of trade issues and concerns over the economic crisis, market capitalisation of listed companies plunged Rs 2,55,585.56 crore to Rs 1,38,42,866.10 crore.
With stock markets falling heavily in the intraday trade on Tuesday on account of trade issues and concerns over the economic crisis, market capitalisation of listed companies plunged Rs 2,55,585.56 crore to Rs 1,38,42,866.10 crore. While BSE benchmark fell 769.88 points, or 2.06 per cent, to close at 36,562.91, the NSE Nifty dipped by more than 225 points to end below the 10,800-mark. After going down by 867 points in the trade today, Sensex ended 769.88 points, or 2.06 per cent, lower at 36,562.91. The broader Nifty too fell 225.35 points, or 2.04 per cent, to settle at 10,797.90. The rupee fell 90 paise in the intraday trade at 72.27 per US dollar.
“In the near term, weak domestic sentiments and uncertain global cues may continue to have negative impact on the Indian markets. Hence, we continue to remain cautious until there are meaningful signs of revival in the economy. Further, falling rupee (vs US$) is a key concern which could negatively impact the sentiments. On global front, trade tension between US-China is likely to induce volatility across markets,” Ajit Mishra Vice President, Research, Religare Broking said.
Even as the government announced a slew of measures, even announcing roll back of enhanced surcharge on FPI, the markets have continued to fall. The market sentiment took a hit on account of weak macroeconomic data releases and double-digit decline in auto sales in August as the sector continued to reel under one of the worst slowdowns in its history. The corporate sector has asked the government to come out with a stimulus package to revive the economy and increase demand.