Investors’ wealth tumbles over Rs 3.39 lakh crore as markets plunge
Investors’ wealth tumbled over Rs 3.39 lakh crore in morning commerce on Monday as fairness markets went right into a tailspin, with the Sensex plunging 1,291.93 factors.
The BSE benchmark index tanked 1,291.93 factors to 57,047 in morning commerce after a weak opening.
Tracking the weak development in equities, the market capitalisation of BSE-listed corporations tumbled Rs 3,39,088.04 crore to Rs 2,68,63,975.53 crore.
“In the near-term, headwinds are getting stronger for the market. Globally, sentiments are destructive with the greenback index above 100, 10-year yield above 2.8 per cent and world financial system anticipated to weaken if the Ukraine conflict prolongs.
“Back home in India, Infosys results came worse-than-expected with rising attrition and weakening margins even though growth prospects appear bright,” based on V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
From the 30-share pack, Infosys, Tech Mahindra, HDFC and HDFC Bank had been the foremost laggards.
In distinction, NTPC, Tata Steel, HUL and M&M had been the gainers.
In Asia, markets had been buying and selling decrease, with Seoul, Shanghai and Tokyo quoting within the purple.
International oil benchmark Brent crude gained 0.62 per cent to USD 112.39 per barrel.
Foreign institutional buyers continued to dump shares price Rs 2,061.04 crore on Wednesday, based on change knowledge.
Stock markets had been closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, in addition to on Friday on account of Good Friday.
