Mumbai, Mar 18 :
Investors have lost over Rs 5.55 lakh crore in four days of declines in the domestic equity markets.
Rising domestic Covid-19 cases and selling in RIL and banking stocks dragged down the 30-share BSE Sensex by 562.34 points or 1.12 per cent to 49,801.62 on Wednesday.
In four days, the benchamark has fallen by 1,477.89 points or 2.88 per cent.
The market capitalisation of BSE-listed companies has tanked by Rs 5,55,400.52 crore in four days to reach Rs 2,03,71,252.94 crore.
“News of rising COVID cases in India and caution ahead of the US Fed meet were weighing on investors’ sentiment,” said Ajit Mishra, VP – Research, Religare Broking Ltd. All BSE sectoral indices closed lower on Wednesday, with oil and gas, power, realty, energy and utilities falling up to 3.22 per cent.
“Domestic equities dropped for the fourth consecutive day as concerns pertaining to recent rise in COVID-19 cases in various parts of the country and high inflation continued to weigh on investors’ sentiments.
“Additionally, weak cues from global markets ahead of FOMC meeting outcome also caused selling i domestic equities,” said Binod Modi, Head Strategy at Reliance Securities.
ONGC declined 4.95 per cent, the most among the 30-frontline stocks, followed by NTPC, Sun Pharma, SBI, IndusInd Bank, Reliance Industries and Bajaj Auto.
Market heavyweight Reliance Industries dipped 2.16 per cent and was the biggest contributor in the market decline.
In the broader markets, the BSE midcap and smallcap indices declined as much as 2.28 per cent.
At the BSE, 2,188 companies declined, while 795 advanced and 142 remained unchanged.
