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Stock mkt crash wipes out Rs 1.65trn from investor wealth

With the Sensex witnessing its worst fall in two-and-a-half months, the total market capitalisation of BSE listed firms declined by Rs 1.65 lakh crore to Rs 94.43 lakh crore.

Stock mkt crash wipes out Rs 1.65trn from investor wealth

Investor wealth today fell sharply by Rs 1.65 lakh crore in-tandem with an overall weak stock market where the benchmark Sensex lost a whopping 431.05 points.

With the Sensex witnessing its worst fall in two-and-a-half months, the total market capitalisation of BSE listed firms declined by Rs 1.65 lakh crore to Rs 94.43 lakh crore.

The Sensex ended the day at 26,775.69, a steep fall of 431.05 points or 1.58 per cent. Among the 30-Sensex scrips, 26 ended the day in red led by Cipla, Tata Motors, Hindalco and Tata Steel.

The four gainers were NTPC , HUL ,  Maruti and ITC . All of the BSE 12 sectoral indices settled with losses, with realty index witnessing the maximum fall of 4.91 per cent.

“Markets fell sharply on the back of profit booking and negative global cues. The selling pressure gained momentum after data released on Eurozone economic activity indicated continuing weakness in the region,” said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities.

Marketmen said that caution also prevails ahead of the expiry of the monthly derivatives contracts on Thursday which generally leads to high volatility in stock markets.

At the BSE, 2,182 stocks declined, while 847 advanced.

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