Indian Stock Market Crash: Rs 13.2 Lakh Crore Wiped Off In 4 Days As Share Prices Tumble
- A four-day decline in stocks has taken away more than Rs 13.32 lakh crore from the market capitalisation of BSE-listed firms.
- In loss for the fourth session straight, the BSE Sensex has gone down by 276.46 points or 0.51% and closed at 54,088.39 on Wednesday.
- In four days, the benchmark is down by 1,613.84 points or 2.89%.
A four-day decline in stocks has swept away more than Rs 13.32 lakh crore from the market capitalisation of BSE-listed firms. Slipping for the fourth session straight, the BSE Sensex shed 276.46 points or 0.51% and closed at 54,088.39 on Wednesday. In four days, the benchmark is down by 1,613.84 points or 2.89%.
Tracking the weak trend in equities, the market capitalisation of BSE-listed firms lost Rs. 13,32,898.99 crore in four sessions and is now standing at Rs. 2,46,31,990.38 crore.
“Lack of contemporary constructive cues is forcing buyers to dump equities and swap to safer havens like gold, and so forth. Though the bigger texture of the market remains to be on the bearish facet, we might see a pointy pullback rally within the close to future attributable to markets being in an oversold territory,” said the Kotak Securities Ltd’s, Head of Fairness Analysis, Shrikant Chouhan.
The Sensex pack
On Wednesday, Larsen & Toubro, Bajaj Finserv, Bajaj Finance, PowerGrid, NTPC, Infosys, and Maruti were among the many distinguished loafers within the Sensex pack.
On the other hand, Axis Financial institution, IndusInd Financial institution, HDFC, Kotak Mahindra Financial institution, HDFC Financial institution and Bharti Airtel were among the many big achievers.
Meanwhile, worldwide oil benchmark Brent crude increased by 3.05% to USD 105.7 per barrel.
On Tuesday, international institutional buyers unloaded shares worth Rs. 3,960.59 crore, in compliance with inventory trade information.
Caution to buyers
Vinod Nair, Head of Analysis at Geojit Monetary Providers said that buyers must proceed with caution regardless of international markets buying and selling inexperienced attributable to drop in home buyers confidence and FII promoting.