Investors lose Rs 4.95-lakh cr wealth on 'Terrifying Tuesday' as markets crash; all sectoral indices bleed
Domestic brokerage firm Angel Broking in a report on Tuesday said that a fall in Indian markets is likely amid sell off in global indices
New Delhi: Investors lost around Rs 4.95 lakh crore amid sell-off in the broader market on Tuesday where the benchmark BSE Sensex tumbled 1,275 points or 3.6 percent in opening trade. The BSE Sensex cracked below the 34,000-mark by plunging about 1,275 points or 3.6 percent in opening trade on Tuesday due to across-the-board losses after investor sentiment was hit by a sell-off in world markets.
Following the downfall, the total market capitalisation of BSE listed companies eroded by Rs 4,94,766 crore to Rs 1,43,00,981 crore. Extending its falling streak for the sixth straight session, the 30-share index fell by 1,274.35 points, or 3.66 percent, to 33,482.81 with all sectoral indices led by realty, consumer durables, metal and banking tradings in the negative zone.
On BSE, 2,221 stocks declined, while 169 advanced and 83 remained unchanged. Domestic brokerage firm Angel Broking in a report on Tuesday said that a fall in Indian markets is likely amid sell off in global indices. "US stocks suffered one of their worst days in recent history in the last trading session, as markets continued to throw a tantrum over rising interest rates. The Dow Jones ended on downside of 4.6 percent to close at 24,346 and the Nasdaq Composite edged down to 3.8 percent, to 6,968," it said.
Moreover, UK shares tumbled as a strong US jobs report reinforced the Fed's outlook for three interest-rate hikes this year and investors looked ahead to a new round of talks between the UK and European Union. The FTSE 100 was down by 1.5 percent to close at 7,335, it added.
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Nestle India was the top loser in the Sensex pack, shedding around 4 percent, followed by ONGC, HDFC, TCS, PowerGrid and ICICI Bank
Axis Bank was the top gainer in the Sensex pack, rising around 3 percent, followed by IndusInd Bank and ONGC, among others
The gains in the early morning trade in BSE Sensex was driven by gains in index majors HDFC twins, Kotak Bank and Reliance Industries amid a positive trend in global markets