Investors' wealth tumbles Rs 9.74 lakh crore in two days of stock market plunge on coronavirus scare
Investor wealth dropped by Rs 9.74 lakh crore in two days of market fall this week triggered by weak global trends and fears of coronavirus hitting the overall economy
Investors' wealth dropped by Rs 9.74 lakh crore in two days of market fall this week triggered by weak global trends and fears of coronavirus hitting the overall economy.
In two days, investors have lost Rs 9,74,176.71 crore wealth. At close of trade on Tuesday, the market capitalisation of BSE-listed companies was at Rs 1,19,52,066.11 crore.
Fag-end selling pulled down the BSE's key bellwether index by 810.98 points or 2.58 percent on Tuesday. Markets erased all its early gains, tracking weak global cues and finally closed at 30,579.09. On Monday, the key index had plummeted 2,713.41 points or 7.96 percent.
"The Indian markets continued to plummet on Tuesday tracking weak global cues. The markets across the globe are witnessing high volatility and the recent stimulus measures have failed to assuage the investor fears.
"On the domestic front, the markets will continue to follow the global cues and therefore further downside cannot be ruled out in the near-term," according to Ajit Mishra, VP - Research, Religare Broking Ltd.
Among the 30-share pack, 21 companies closed the day with losses led by ICICI Bank, IndusInd Bank, Bajaj Finance, HDFC and Infosys, tumbling up to 8.95 percent.
From the broader market, the BSE midcap and smallcap fell by 1.84 percent and 2.27 percent, respectively.
A total of 1,650 companies declined, while 779 advanced and 166 remained unchanged on BSE.
As many as 539 companies hit their one-year low mark on Tuesday.
Market Roundup: Sensex surges 460.37 points, Nifty closes at 14,819.05 after RBI policy; banking stocks lead
The Reserve Bank of India kept the repo rate unchanged at four percent in its monetary policy meeting earlier today
Market Roundup: BSE Sensex plunges 870.51 points, Nifty closes at 14,637.80; today's top gainers and losers
Nifty Auto declined 254.55 points to end at 9,768.05 followed by Nifty Pharma, which fell 45.60 points to end at 12,331.50
The top BSE Sensex gainers included IndusInd Bank, Kotak Bank Bajaj Finance and Axis Bank while Hindustan Unilever, Nestle India, HDFC Bank, and TCS were the worst performers