With the benchmark equity indices seeing a sell-off, the investor wealth plunged by more than Rs 2 lakh crore in the intraday trade on Tuesday.
With the benchmark equity indices seeing a sell-off, the investor wealth plunged by more than Rs 2 lakh crore in the intraday trade on Tuesday. A Sensex fall of 624 points on account of sell-off in global equities and domestic front-line companies led to the market capitalisation of the BSE-listed companies getting declined by Rs 2,21,837.81 crore to Rs 1,39,46,997.40 crore. The 30-share key barometer tanked 1.66 per cent to close at 36,958.16.
Yes Bank, M&M, Bajaj Finance, Bharti Airtel, HDFC, Maruti, Tata Steel and L&T were the 27 scrips among the 30-share pack that closed with losses led by fell up to 10.35 per cent. Of the total stocks, 1,652 stocks declined, while 861 advanced and 148 remained unchanged at the BSE. Over 250 stocks were at their 52-week low levels on the BSE. In the broader market, the BSE small-cap and mid-cap indices fell by up to 2.25 per cent.
“We expect the markets to remain volatile and choppy in the near term in the backdrop of weak domestic sentiments given the on-going economic slowdown. Further, on the global market front, market participants would keep an eye on US-China trade tensions, fluctuations in crude oil and currency movement,” Ajit Mishra, Vice President, Research, Religare Broking.
Meanwhile, Reliance Industries Limited (RIL) rallied 9.72 per cent to become the biggest gainer, after Mukesh Ambani on Monday announced plans to sell stakes in the firm’s oil and chemicals business to Saudi oil giant Aramco and in fuel retail network to BP plc for Rs 1.15 lakh crore, and said its telecom unit Jio will begin offering fibre-based broadband services from next month onwards.