Equity buyers have turn out to be poorer by greater than Rs 18.74 lakh crore because the market continued to stay bearish for the fifth session on the trot on Thursday.
The 30-share BSE Sensex tumbled 1,158.08 factors or 2.14 per cent to finish under the 53,000-level at 52,930.31 factors on Thursday.
Markets have been falling for 5 straight periods and the BSE benchmark has tumbled 2,771.92 factors or 4.97 per cent throughout this era.
A weak pattern in equities have eroded Rs 18,74,689.98 crore from the market capitalisation of BSE-listed corporations in 5 days. The market capitalisation of BSE-listed corporations is now at Rs 2,40,90,199.39 crore.
“Markets continued to remain under pressure in sync with global markets slump, as worries of more interest rate hikes coupled with sluggish economic growth going ahead weighed on sentiment. The ongoing conflict and lockdowns in China due to virus spread is promoting investors to shun equities,” Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd, mentioned.
Among the Sensex corporations, IndusInd Bank declined essentially the most by 5.82 per cent on Thursday, adopted by Tata Steel, Bajaj Finance, Bajaj Finserv, Axis Bank, HDFC Bank, HDFC, Titan and L&T.
Only Wipro ended increased from the 30-share BSE benchmark pack.
In the broader market, the BSE midcap gauge tanked 2.24 per cent and smallcap declined 1.96 per cent.
All BSE sectoral indices ended decrease, with energy falling 4.11 per cent, adopted by utilities (3.90 per cent), steel (3.75 per cent), financial institution (3.14 per cent), finance (3.14 per cent) and telecom (2.81 per cent).
“Inflation continues to be a significant concern for the markets. Weakening financial development outlook, extended Russia-Ukraine War, volatility in commodity costs, continued FIIs promoting and rising bond yields have dented buyers’ sentiments.
“Volatility was also seen in the market on account of weekly expiry and domestic retail inflation data which is due to release late on Thursday,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, mentioned.
Source: www.financialexpress.com”