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Investors’ wealth tumbles over Rs 6.86 lakh crore in morning trade as markets crack

Tracking losses in equities, the market capitalization of BSE-listed companies eroded by Rs 6,86,708.74 crore to Rs 2,02,76,533.13 crore.

By: PTI | New Delhi |
Updated: April 12, 2021 12:32:44 pm
sensex, nifty, stock marketStaffs working at a Calcutta based stock broking agency. (Express photo by Partha Paul)

Investors’ wealth tumbled by Rs 6,86,708.74 crore in morning trade on Monday following massive losses in the equity market as sentiments remained muted amid increasing COVID-19 cases in the country.

The 30-share BSE benchmark index plunged 1,479.15 points to 48,112.17 in morning trade.

Tracking losses in equities, the market capitalization of BSE-listed companies eroded by Rs 6,86,708.74 crore to Rs 2,02,76,533.13 crore.

IndusInd Bank was the biggest loser among the 30-share companies pack, declining over 7 per cent, followed by SBI, Bajaj Finance and Axis Bank.

“Domestic equities do not look to be inspiring at the moment. A sharp increase in COVID-19 daily cases in the country, and possibility of large economic restrictions are expected to keep investors nervous in the near term. Further, the possibility of lockdown in large states like Maharashtra will weigh on investors’ sentiments.

“Additionally, recent weakness in INR may also aggravate investors’ concerns. However, 4Q FY21 earnings, wherein IT majors are scheduled to deliver their numbers this week, are to be in focus,” said Binod Modi, Head Strategy at Reliance Securities.

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