The Sensex slid for the fifth straight session on Tuesday amid worries that renewed trade tensions between the United States and China would adversely affect India’s macro-economic scenario further at a time when growth is crawling. The investors sentiment was also dented by the weak results reported by some of the heavyweights; the Street chose to stay cautious ahead of results from other blue chips given the trend so far has been somewhat mixed.
On Tuesday, the Sensex lost 0.84 % or 323.71 points to close at 38,276.63, making its longest losing streak since February. The broader Nifty ended 0.87% lower at 11,497.90. Both indices hit their lowest levels in near six-week.
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The weak sentiment saw much of the market give up value as nearly half of the companies with a market capitalisation of Rs 1,000 crore have lost over 20% of their value in the last one year, investors have had very little to cheer. Of the 709 companies in this universe, 74% are in the red, and 211 companies have lost more than 30% of their value.
The Nifty SmallCap Index has given up 23.1% over the past year, and 80% of its constituents have lost value.