NEW DELHI: Investors have lost over Rs 5.55 lakh crore in four days of decline 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 benchmark 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.
Investors have lost over Rs 5.55 trillion 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 benchmark 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.
Read more about Investor wealth falls Rs 1.37 trn as markets snap three-day rising streak on Business Standard. The 30-share BSE Sensex closed at 50,792.08, lower by 487.43 points or 0.95 per cent. During the trade, it plunged 741.08 points to 50,538.43
Stocks likely to see action today are: AU Small Finance, Godrej Properties, Max Healthcare, Confidence Petroleum India, JSW Energy, Jubilant Foodworks, Magma Fincorp and PowerGrid Indian stock markets are expected to open with a gap-up opening on Wednesday, thanks to strong global cues. As US Treasury yields softened considerably, the tech-heavy Nasdaq jumped 3.7 per cent overnight. The S&P 500 and the Dow Jones Industrial Average too gained 1.4 per cent and 0.10 per cent.
However, Asian stock markets are up only moderately, signalling the weakness at higher levels.
Following the US market trends, the SGX Nifty is currently hovering at 15,237, which is almost 100 points higher than the Nifty March futures that closed at 15,134 on Tuesday.
Smallcap index hits new peak, RIL up at 4-month high. Today s market action in 10 points
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(REUTERS)
RIL rose about 4%.
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Indian stocks ended higher for the third day in a row with strong gains seen in the broader markets. Positive global sentiment along with gains in heavyweight Reliance Industries and energy stocks lifted Indian markets. The NSE Nifty 50 index ended 0.77% higher at 15,097.35 and the S&P BSE Sensex closed up 0.51% at 51,039.
Here are 10 things to know about today s market performance:
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. 12:49 PM IST
1) BSE midcap index rose 1%. The smallcap index surged 1.4% to 20,304, hitting a intraday record high of 20,321 in today s session.