New Delhi: Equity investors lost Rs 2,57,785.17 crore on Wednesday on heavy selling in benchmark indices tracking weak global markets.
The 30-share BSE benchmark ended 555.15 points or 0.93 per cent lower at 59,189.73, halting its two-day rally.
During the day, it closed at 59,079.86, down 665.02 points.
The market capitalization of BSE-listed companies declined by Rs 2,57,785.17 crore to Rs 2,62,20,547.05 crore at the end of trading.
“Indian stocks opened positive but turned profit-booking in the second half following weak global cues.
“Equities have declined globally amid rising concerns over rising government bond yields, rising inflation and energy prices hitting a multi-year high,” said Siddharth Khemka, Head, Retail Research, Motilal Oswal Financial Services. .
IndusInd Bank was the biggest laggard in the pack of BSE 30-share frontline companies, falling 3.38 per cent, followed by Tata Steel, Bajaj Auto, Sun Pharma, HCL Tech, Titan and Reliance Industries.
HDFC Bank, HDFC and Bajaj Finance were the only three beneficiaries.
In the broader market, the BSE Midcap and Smallcap indices fell up to 1.22 per cent.
“Weak global markets, resulting in profit-booking in metals and IT stocks, prompted domestic indices to trade in the red, reducing its early gains.
Vinod Nair, Head (Research), Geojit Financial Services, said, “Rise in crude oil prices is rocking the Indian market, while inflation is affecting US bond yields.
The 30-share BSE benchmark ended 555.15 points or 0.93 per cent lower at 59,189.73, halting its two-day rally.
During the day, it closed at 59,079.86, down 665.02 points.
The market capitalization of BSE-listed companies declined by Rs 2,57,785.17 crore to Rs 2,62,20,547.05 crore at the end of trading.
“Indian stocks opened positive but turned profit-booking in the second half following weak global cues.
“Equities have declined globally amid rising concerns over rising government bond yields, rising inflation and energy prices hitting a multi-year high,” said Siddharth Khemka, Head, Retail Research, Motilal Oswal Financial Services. .
IndusInd Bank was the biggest laggard in the pack of BSE 30-share frontline companies, falling 3.38 per cent, followed by Tata Steel, Bajaj Auto, Sun Pharma, HCL Tech, Titan and Reliance Industries.
HDFC Bank, HDFC and Bajaj Finance were the only three beneficiaries.
In the broader market, the BSE Midcap and Smallcap indices fell up to 1.22 per cent.
“Weak global markets, resulting in profit-booking in metals and IT stocks, prompted domestic indices to trade in the red, reducing its early gains.
Vinod Nair, Head (Research), Geojit Financial Services, said, “Rise in crude oil prices is rocking the Indian market, while inflation is affecting US bond yields.
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