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Stock market slump: Investor wealth dips by Rs 2.45 lakh crore

Investor wealth Thursday diminished by over Rs 2.45 lakh crore amid massive sell-off in the stock market after India carried out "surgical strikes" last night on terror launchpads across LoC.


Stock market slump: Investor wealth dips by Rs 2.45 lakh crore

New Delhi: Investor wealth Thursday diminished by over Rs 2.45 lakh crore amid massive sell-off in the stock market after India carried out "surgical strikes" last night on terror launchpads across LoC.

The benchmark Sensex settled at 27,827.53, lower by 465.28 points, or 1.64 percent -- its biggest single-day fall since June 24 and weakest closing since August 26 when it closed at 27,782.25.

Following weakness in stocks, the market capitalisation of BSE-listed companies slumped by Rs 2,45,360.72 crore to Rs 1,09,58,658 crore.

 

"Indian markets saw selling pressure on news that Indian army conducted surgical strikes on terror launch pads at LoC yesterday. Markets may remain under pressure over uncertainty about geopolitical situation between two countries and take wait and watch approach in the short term," said Dinesh Thakkar Chairman & Managing Director, Angel Broking.

It was a sea of red as 29 of the 30 Sensex stocks slumped. Adani Ports lost most by 5.01 percent. Sun Pharma, ICICI Bank, GAIL, Tata Steel, Lupin, Tata Motors and SBI followed. TCS manged to close in the green, up 0.46 percent.

 

Among sectoral indices, realty got the maximum battering, falling 6.31 percent, followed by power (4.11 percent), healthcare (3.26 percent), metal (3.17 percent), infrastructure (3.15 percent) and consumer durables (2.84 percent).

Broader markets stumbled too, with the BSE small-cap index falling 4.02 percent and mid-cap 3.60 percent.

From Zee News

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