Tracking the weak sentiment, the market capitalisation of BSE-listed companies declined by Rs 7,00,591.47 crore to Rs 1,98,75,470.43 crore in two days.
“The selling pressure has intensified in the last couple of sessions owing to weak global cues and concerns over the second wave of COVID cases,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
All BSE sectoral indices closed lower, with telecom, power, auto, energy, utilities and realty declining as much as 3.14 per cent.
“Increased rate of infection across the country and world is creating more pessimism in the market, which has increased today due to monthly expiry. After the stellar rally, the market was on a consolidation stage during the last one month, which amplified post the sudden rise in infection impacting future economic growth,” Vinod Nair, Head of Research at Geojit Financial Services, said.