Investor wealth tumbles by over Rs 5.55 lakh cr in four days of market decline

By: |
March 17, 2021 6:31 PM

All BSE sectoral indices closed lower on Wednesday, with oil and gas, power, realty, energy and utilities falling up to 3.22 per cent.

The BSE benchmark has lost 2,062.99 points or 4 per cent in five trading sessions. On Thursday, the 30-share BSE benchmark tanked 585.10 points or 1.17 per cent to close at 49,216.52.The BSE benchmark has lost 2,062.99 points or 4 per cent in five trading sessions. On Thursday, the 30-share BSE benchmark tanked 585.10 points or 1.17 per cent to close at 49,216.52.

Investors have lost over Rs 5.55 lakh crore in four days of declines in the domestic equity markets.

Rising domestic COVID-19 cases and selling in RIL and banking stocks dragged down the 30-share BSE Sensex by 562.34 points or 1.12 per cent to 49,801.62 on Wednesday.

In four days, the benchamark has fallen by 1,477.89 points or 2.88 per cent.

The market capitalisation of BSE-listed companies has tanked by Rs 5,55,400.52 crore in four days to reach Rs 2,03,71,252.94 crore.

“News of rising COVID cases in India and caution ahead of the US Fed meet were weighing on investors’ sentiment,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

All BSE sectoral indices closed lower on Wednesday, with oil and gas, power, realty, energy and utilities falling up to 3.22 per cent.

“Domestic equities dropped for the fourth consecutive day as concerns pertaining to recent rise in COVID-19 cases in various parts of the country and high inflation continued to weigh on investors’ sentiments.

“Additionally, weak cues from global markets ahead of FOMC meeting outcome also caused selling in domestic equities,” said Binod Modi, Head Strategy at Reliance Securities.

ONGC declined 4.95 per cent, the most among the 30-frontline stocks, followed by NTPC, Sun Pharma, SBI, IndusInd Bank, Reliance Industries and Bajaj Auto.

Market heavyweight Reliance Industries dipped 2.16 per cent and was the biggest contributor in the market decline.

In the broader markets, the BSE midcap and smallcap indices declined as much as 2.28 per cent.

At the BSE, 2,188 companies declined, while 795 advanced and 142 remained unchanged.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Jet fuel price cut by 1 pc
2Sensex, Nifty end in green, financial stocks drag market; here’s what analysts make of today’s trade
3MSCI tweaks methodology ahead of May index review; 3 Adani group stocks could still make the cut