Tremendous Fall In The Stock Market, Loss Of 13.30 Lakh Crores In Four Days

Equity investors' wealth has fallen by Rs 13.30 lakh crore due to a fall in the domestic equity market for the last four days amid sharp selling in global markets. On Monday, for the fourth consecutive day, the 30-share BSE Sensex fell 953.70 points or 1.64 percent to end at 57,145.22. In the whole day's trading session, it saw a decline of 1,060.68 points or about 1.82 percent. At one point it reached the level of 57,038.24. 

The BSE benchmark has lost 2,574.52 points (4.31 percent) in the last four days. During this period, the market capitalization of BSE listed companies fell by Rs 13,30,753.42 crore to Rs 2,70,11,460.11 crore in the last four sessions.

Domestic equities have corrected by more than 4 percent over the last four trading sessions as global uncertainties dominate market sentiments. A short bounce or reversal can be seen following this intense selling.

“However, the overall narrative of the market remains weak, especially following the cautiousness ahead of the RBI MPC due later this week,” said Siddhartha Khemka, Head – Of Retail Research, Motilal Oswal Financial Services Ltd.

On Monday, Maruti, Tata Steel, ITC, Axis Bank, NTPC, Bajaj Finance, IndusInd Bank, and Mahindra & Mahindra were the major laggards among the 30-share Sensex pack HCL Technologies, Asian Paints, Infosys, UltraTech Cement, TCS, Nestle, and Wipro were the gainers.

In the broader market, the BSE smallcap gauge tumbled by 3.33 percent and the midcap index fell by 2.84 percent. All the BSE sectoral indices, except IT, ended lower, with realty falling 4.29 percent, auto (3.86 percent), utilities (3.72 percent), power (3.71 percent), commodities (3.32 percent), energy (3.17 percent), oil & gas (3.10 percent) and telecommunication (2.97 percent).

“The speed with which central banks across the globe are hiking interest rates, investors are worried that slackening growth would push key economies into recession.