Latest News | Investors' Wealth Tumbles over Rs 3.39 Lakh Cr as Markets Plunge
Get latest articles and stories on Latest News at LatestLY. Investors' wealth tumbled over Rs 3.39 lakh crore in morning trade on Monday as equity markets went into a tailspin, with the Sensex plunging 1,291.93 points.
New Delhi, Apr 18 (PTI) Investors' wealth tumbled over Rs 3.39 lakh crore in morning trade on Monday as equity markets went into a tailspin, with the Sensex plunging 1,291.93 points.
The BSE benchmark index tanked 1,291.93 points to 57,047 in morning trade after a weak opening.
Also Read | Sensex Sharply Declines by 970 Points in Early Trade Due to Rising Inflation.
Tracking the weak trend in equities, the market capitalisation of BSE-listed firms tumbled Rs 3,39,088.04 crore to Rs 2,68,63,975.53 crore.
"In the near-term, headwinds are getting stronger for the market. Globally, sentiments are negative with the dollar index above 100, 10-year yield above 2.8 per cent and global economy expected to weaken if the Ukraine war prolongs.
"Back home in India, Infosys results came worse-than-expected with rising attrition and weakening margins even though growth prospects appear bright," according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
From the 30-share pack, Infosys, Tech Mahindra, HDFC and HDFC Bank were the major laggards.
In contrast, NTPC, Tata Steel, HUL and M&M were the gainers.
In Asia, markets were trading lower, with Seoul, Shanghai and Tokyo quoting in the red.
International oil benchmark Brent crude gained 0.62 per cent to USD 112.39 per barrel.
Foreign institutional investors continued to offload shares worth Rs 2,061.04 crore on Wednesday, according to exchange data.
Stock markets were closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, as well as on Friday on account of Good Friday.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)