Economy

Investors become poorer by over Rs 4 lakh cr in two days of stock market crash due to heavy selling pressure

As stock markets continued to face heavy selling pressure for the second straight session on Tuesday, investors became poorer by more than Rs 4.14 lakh crore in two days of trading.

The BSE benchmark index crashed 509.04 points, or 1.34 percent, to end at 37,413.13. It had lost 467.65 points in the previous trading session also.

Led by the steep decline in stocks, the market capitalisation of the BSE-listed companies tumbled by Rs 4,14,121.84 crore to Rs 1,53,25,666 crore in two consecutive days.

Market experts said that rupee depreciation is a big concern for market sentiment.

The rupee hit yet another new lifetime low of 72.73 against the dollar (intra-day) at the forex market.

Besides, mounting tensions over trade war is a worrisome factor for the Indian market, they added.

From the 30-share basket, 25 stocks ended with losses led by Tata Steel, Power Grid Corporation of India, Hero MotoCorp and Tata Motors.

On the BSE, 1,841 stocks declined, while 874 advanced and 152 remained unchanged.

Also, 153 stocks hit their respective 52-week lows on Tuesday.

The broader market also depicted bearish trend, with the S&P BSE mid cap falling by 1.36 percent and small cap index 1.37 percent.

Sectorally, the BSE consumer durables index was the biggest drag, down 2.47 percent.

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Via
firstpost
Source
businesstoday.in
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