The market capitalization of BSE-listed companies fell Rs 14,60,288.82 crore to Rs 3,09,22,136.31 crore in five days. (Representative image/Reuters)
Tata Steel, State Bank of India, Maruti, Mahindra & Mahindra, Nestle and JSW Steel were the winners.
Equity investors became poorer by Rs 14.60 lakh crore in five days of market decline, amid rising tensions in the Middle East and higher valuations of Indian equities. The 30-share BSE Sensex fell for the fifth day in a row, slumping 522.82 points, or 0.81 percent, to settle at 64,049.06.
During the day, the price fell by 659.72 points, or 1.02 percent, to 63,912.16.
In five days, the benchmark BSE has fallen 2,379.03 points or 3.58 percent. The market capitalization of BSE-listed companies fell Rs 14,60,288.82 crore to Rs 3,09,22,136.31 crore in five days.
“Markets continued their decline for the fifth straight session as banking and IT stocks led the slump amid continued global turbulence. Higher valuations of Indian equities are a concern and the current global turmoil is allowing investors to reduce their equity exposure,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.
Among the Sensex companies, Infosys, Bharti Airtel, NTPC, IndusInd Bank, ICICI Bank, Tata Motors, Larsen & Toubro, Bajaj Finance, Tech Mahindra, Titan and Axis Bank were among the top laggards.
Tata Steel, State Bank of India, Maruti, Mahindra & Mahindra, Nestle and JSW Steel were the winners.
“It was a sea of red on Dalal Street, clouded mainly by lingering concerns about Indian corporate profits, which have so far been uninspiring and, more importantly, could come under severe pressure from inflation, a economic downturn and rising interest rates. . The negative outcome was that the bear remained in full control despite WTI oil prices falling to $83 per barrel,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
In the broader market, the BSE’s smallcap index fell 0.77 percent and the midcap index fell 0.52 percent. Among the indices, teck fell by 1.39 percent, telecommunications fell by 1.29 percent, utilities (1.25 percent), IT (1.13 percent), energy (1.09 percent), financial services (0.83 percent ), real estate (0.80 percent). ) and bankex (0.70 percent).
Metal emerged as the sole winner.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)