Investors’ Wealth Of Over Rs 7.7 Lakh Crore Wiped Out In 2 Days Of Market Rout

Investors’ wealth decreased by more than Rs 7.73 lakh crore in two days of market slump

New Delhi:

Investors’ wealth rose to over Rs 7.73 lakh crore as markets fell for the second consecutive session on Monday following weakness in global equities.

The BSE 30-share Sensex closed at 54,470.67, down 364.91 points or 0.67 per cent on Monday. On Friday, the Sensex closed at 54,835.58, down 866.65 points or 1.56 per cent.

The two-day fall in equities came as the market capitalization of BSE-listed firms declined by Rs 7,73,582.29 crore, which now stands at Rs 2,51,91,307.08 crore.

Weakness in global markets, continued outflow of foreign funds and depreciation of the rupee against the US dollar weighed on the sentiments.

“There is no respite for the markets from the slowdown, as weak Asian indicators and fall in European indices have dampened investor sentiments,” Srikanth said. Post the results, Reliance Industries was severely hit, which affected the overall markets Pulled off,” said Srikkanth. Chauhan, Head of Equity Research (Retail), Kotak Securities Limited

Reliance Industries was the top loser in the Sensex pack on Monday, falling 3.97 per cent, after the company’s March quarter earnings failed to please investors.

Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd said, “Indian equity market continued with its selloff with global peers due to slow economic growth and rising inflationary concerns.”

“Global cues were weak amid concerns over aggressive monetary tightening by central banks to contain rising inflation, which could slow economic growth. Further, the COVID-induced lockdown in Shanghai further dampened sentiments,” he said. ,” They said.

Global stocks remained under pressure on rising concerns about interest rate hikes by central banks amid inflation.

Foreign institutional investors continued selling shares worth a net Rs 5,517.08 crore on Friday, according to stock exchange data.

In the broader market, the BSE Smallcap gauge fell 1.67 per cent and the Midcap index fell 1.89 per cent.

Source

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