Investors’ wealth slumped over Rs 8.77 lakh crore on Monday as considerations over surging COVID-19 instances within the nation roiled the fairness market.
The 30-share BSE benchmark index plunged 1,707.94 factors or 3.44 per cent to shut at 47,883.38.
During the day, it nosedived 1,897.88 factors to 47,693.44.
Tracking losses in equities, the market capitalisation of BSE-listed corporations eroded by Rs 8,77,435.5 crore to Rs 2,00,85,806.37 crore.
IndusInd Bank was the largest loser among the many Sensex corporations, declining 8.60 per cent, adopted by Bajaj Finance, SBI, ONGC, Titan, M&M and Axis Bank.
Binod Modi, Head Strategy at Reliance Securities, mentioned home equities right this moment reminded the blood bathtub of March 2020 as report rise in COVID-19 instances within the nation and risk of lockdowns in a number of states dented investors’ sentiments.
“Markets began the week on a feeble notice and misplaced over three and a half per cent. The benchmark indices continued to plunge southwards on account of rising COVID-19 instances, and the opportunity of lockdown in numerous elements of the nation.
“Selling stress widened because the day progressed,” Ajit Mishra, VP – Research at Religare Broking Ltd, mentioned.
All BSE sectoral indices closed with losses. Realty index declined 7.70 per cent, adopted by industrials, metallic, auto, energy, finance.
In the broader market, the BSE midcap and smallcap indices tumbled as much as 5.32 per cent.
On the BSE, shares of two,477 corporations closed within the pink whereas 510 superior and 174 remained unchanged.