New Delhi: Equity investors became poorer by Rs 16.97 lakh crore in five days of market crash as persistent foreign fund outflows and fresh US tariffs that reignited trade war fears dented sentiments. In the past five days, the BSE bellwether gauge slumped 2,290.21 points or 2.91 per cent.
Tumbling for the fifth day running on Tuesday, the 30-share BSE Sensex dropped 1,018.20 points or 1.32 per cent to settle at a two-week low of 76,293.60. Tracking the weak trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 16,97,903.48 crore to Rs 4,08,52,922.63 crore (USD 4.70 trillion) in five days. On Tuesday alone, investors’ wealth got wiped out by Rs 9,29,651.16 crore.
FII Sell-Off and US Tariffs Fuel Indian Market Decline
“Indian markets underperformed global indices as benchmark indices plunged over 1 per cent each on widespread selling, mainly ignited by worries over escalating tariff war,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Among 30 Sensex shares, Zomato tanked over 5 per cent. Tata Steel, Bajaj Finserv, Power Grid, Larsen & Toubro, Tata Motors, Kotak Mahindra Bank, Hindustan Unilever and ITC were the other big laggards.
Bharti Airtel was the only gainer from the pack. The BSE smallcap gauge plunged 3.40 per cent and midcap index tumbled 2.88 per cent.
“The ongoing uncertainty surrounding US trade policies and tariffs, coupled with domestic economic growth concerns and persistent selling by FIIs, is dampening market sentiment. The mid and smallcap stocks experienced significant declines due to demand concerns and higher valuations,” Vinod Nair, Head of Research, Geojit Financial Services, said.
All BSE sectoral indices ended lower. Realty tanked 3.14 per cent, industrials (2.87 per cent), consumer discretionary (2.73 per cent), capital goods (2.59 per cent), auto (2.49 per cent) and metal (2.23 per cent). As many as 3,478 stocks declined while 525 advanced and 94 remained unchanged on the BSE.
Tumbling for the fifth day running on Tuesday, the 30-share BSE Sensex dropped 1,018.20 points or 1.32 per cent to settle at a two-week low of 76,293.60. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
