new Delhi: Investors’ wealth has fallen by over Rs 11.28 lakh crore in four days, tracking a sharp fall in equities amid intensifying conflict between Russia and Ukraine.
Slipping for the fourth straight day on Monday, the BSE benchmark Sensex ended 1,491.06 points or 2.74 per cent lower at 52,842.75, led by weak global equities and a rise in crude oil prices. During the session, the benchmark ended 1,966.71 points or 3.61 per cent lower at 52,367.10.
With heavy selling in equities, the market capitalization of BSE-listed companies fell by Rs 11,28,214.05 crore to Rs 2,41,10,831.04 crore in four days.
In four sessions, the BSE benchmark has lost 3,404.53 points or 6.05 per cent.
“Markets tumbled sharply and fell over 2 per cent, tracking continued growth in crude oil and weak global cues. Markets are troubled by a sharp jump in crude oil amid fears of further sanctions on Russia. The tension between the two countries shows no sign of deteriorating.
“In short, we expect volatility to remain high and suggest keeping a close watch on global markets for signals. On the domestic front, state election exit polls and actual results on March 10 will be actively monitored ,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
International oil benchmark Brent crude rose 5.76 percent to $124.7 a barrel.
IndusInd Bank, Axis Bank, Maruti Suzuki, Bajaj Finance, Bajaj Finserv, UltraTech Cement and Mahindra & Mahindra shed up to 7.63 per cent in the 30-share Sensex pack. In contrast, Bharti Airtel, HCL Technologies, Tata Steel and Infosys settled in the green.
Realty, bank, finance and auto closed with big cuts in the BSE sectoral indices.
Foreign institutional investors continued their sell-off in the Indian markets and sold shares worth Rs 7,631.02 crore on a net basis on Friday, according to exchange data.
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