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Investors lost Rs 24.69 lakh crore in market valuation in the last four days of severe drubbing in the equity market.
AS reported by PTI, Spike in global crude prices, unabated foreign fund outflows, a strong US jobs data diminishing early rate cut expectations, and the rupee logging its steepest single-day fall in nearly two years dampened investors’ sentiment.
The BSE Sensex tanked 1,869.1 points, or 2.39 per cent, in the past four trading sessions.
Falling for the fourth straight session on Friday, the 30-share BSE benchmark Sensex tumbled 1,048.90 points, or 1.36 per cent, to finally settle at 76,330.01.
During the day, it plunged 1,129.19 points, or 1.45 per cent, to 76,249.72.
The market capitalisation of BSE-listed firms eroded by Rs 24,69,243.3 crore to Rs 4,17,05,906.74 crore ($4.82 trillion) in four days.
With Monday’s sharp fall in equities, the market cap of BSE-listed firms dived below the $5-trillion mark.
On Monday alone, investors’ wealth dropped Rs 12.61 lakh crore.
“Continued foreign institutional investor selling crossed Rs 20,000 crore this month, contributing to the negative sentiments.
“Indian rupee touched a fresh low against the dollar during the session, pressured by stronger-than-expected US non-farm payrolls data which further dampened the sentiment, resulting in a firm dollar index.
