Afternoon D & C Dedicated To Mumbai
Home > Business > Market free fall: Investors lose Rs.4.30 lakh cr in 5 days

Market free fall: Investors lose Rs.4.30 lakh cr in 5 days

Wednesday, March 07, 2018

As much as Rs 4.30 lakh crore of investors' money has been wiped out in the last five trading sessions, with Rs 1.54 lakh crore eroding today.

The BSE benchmark Sensex today nosedived nearly 430 points to close at a nearly three-month low of 33,317 after bank stocks came under heavy selling pressure despite positive global cues.

The 30-share index Sensex slipped into a negative zone towards the fag-end to hit a low of 33,209.76 as participants booked profits at improved levels.

Following the bearish trend in the broader market, the market capitalisation of BSE listed companies fell to Rs 1,44,20,606 crore at the end of today's trading session, from Rs 1,45,75,054.23 crore yesterday.

Overall, in the last five straight sessions, the index has lost nearly 1,129 points.

Led by a continuous sell-off, the market capitalisation of BSE-listed companies plummeted by Rs 4,30,042.5 crore to Rs 1,44,20,606 crore in five trading sessions.

"Consolidation continues led by broad selling across all sector. Market has broken yesterday’s low while banks continue to struggle due to NPA issue, higher bond yield & cost of funds. Investors are little nervous to start accumulating and are waiting for major triggers to get direction," said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

“We expect the markets to remain volatile and choppy in the near term due to bank scams, volatile global markets, continued selling pressure from FIIs and fear of faster than anticipated interest rate hike in US. Market participants will keep a close watch on macro data like IIP, WPI & CPI inflation.

Investors should consider this ongoing correction as an opportunity to invest in fundamentally sound companies. Meanwhile, traders should remain cautious and keep their position hedged, as volatility is expected to remain high,” said Jayant Manglik, President, Religare Broking Ltd.

No Comments Posted
City news
BJP, Sena celebrate Gudi Padwa with ugly fight ...
Launching a frontal attack on Prime Minister Nare
The anti-encroachment department of (TMC) Thane M
My sex organ becomes hard very often nowadays and
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Stick to routine work where there are better chances of good profits. A quick turnover in finances will make you look for new areas of investment. It is not a time to bring about any changes. Build assets through saving for the long term. With certain developments in your life today you will be content. Your mate will be happy for your chance to live your dreams for real and share them.
- Advertising -
Global events will be crucial in deciding the tre
Demonetised Rs 500 and Rs 1,000 notes, which have
As the electric vehicle markets stand on the brin
Read More