Market selloff: Investors lose ₹10.36 lakh cr in 4 days; Sensex tanks 200 pts

Investors have become poorer by over ₹10.36 lakh crore in the last four trading sessions, as the domestic equity benchmarks extended their losses amid weak global trends.

The Sensex and Nifty closed in the red for the fourth straight session on Friday amid continued selling by foreign institutional investors.

The BSE Sensex ended 427.44 points or 0.72 per cent lower at 59,037.18. The 30-share benchmark has lost 2,271.73 points in four sessions.

In line with the weak trend, the market capitalisation of BSE-listed companies plunged by a massive ₹10,36,636.17 crore in the last four trading sessions to stand at ₹2,69,65,801.54 crore.

The market capitalisation of BSE-listed firms had reached a lifetime high of ₹2,80,02,437.71 crore on Monday.

Barring FMCG, all BSE sectoral indices closed in the red on Friday, led by telecom, consumer durables, realty, capital goods and industrials, which shed as much as 3.03 per cent.

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“Indian equity markets corrected this week in line with the global market sell-off. The rise in US bond yields and the expected tightening of monetary policy by Central Banks is weighing on investor sentiments,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.

Most sectors saw profit booking. The IT sector performed poorly this week, with a negative return of around six per cent.

“Inflationary pressure, monetary policy tightening, rising bond yields, higher crude oil prices are some key challenges for the global markets. In addition to global factors, the domestic markets would track the Q3FY22 results, management commentary and the Union Budget,” Chouhan added.

Sensex slumps over 200 points on Monday, Nifty falls by 73.70 points

Equity benchmark Sensex slumped over 200 points in opening trade on Monday, tracking losses in index majors Wipro, Bajaj Finserv and Infosys, amid a largely negative trend in global markets.

Besides, unabated foreign fund outflows also put pressure on domestic equities, according to the traders.

The BSE gauge was trading 233.53 points or 0.40 per cent lower at 58,803.65 in early trade.

Likewise, the Nifty fell 73.70 points or 0.42 per cent to 17,543.45.

Asian Paints was the top loser in the Sensex pack, shedding 2.44 per cent, followed by Tech Mahindra, Wipro, Bajaj Finserv, Infosys, HCL Tech and Bajaj Finance.

On the other hand, PowerGrid, Maruti, ICICI Bank, Reliance Industries and Bharti Airtel were among the gainers.

In the previous session, the 30-share index ended 427.44 points or 0.72 per cent lower at 59,037.18.

Similarly, the broader NSE Nifty plunged 139.85 points or 0.79 per cent to 17,617.15.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo were trading with losses in mid-session deals, while Shanghai was in the green.

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Stock exchanges in the US finished with significant losses in the overnight session on Friday.

Meanwhile, international oil benchmark Brent crude rose 0.92 per cent to $88.70 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth ₹3,148.58 crore on Friday, according to stock exchange data.

(With inputs from Agencies)