Investor wealth erodes by Rs 3.25 lakh crore as markets crash

"Tracking weak global cues, domestic bourses tumbled in today's session and joined the global sell-off amid faded US stimulus hopes and worries over re-surging COVID-19 infections in Europe," said Sumeet Bagadia, Executive Director, Choice Broking.

October 15, 2020 / 07:05 PM IST
 
 
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Investor wealth on October 15 eroded by Rs 3.25 lakh crore as the equity markets witnessed massive selloff, halting its 10-session winning run.

The 30-share BSE index tanked 1,066.33 points or 2.61 percent to close at 39,728.41. Following the massive selloff, the market capitalisation of BSE-listed companies tumbled Rs 3,25,464.52 crore to Rs 1,57,31,141.32 crore.

"Tracking weak global cues, domestic bourses tumbled in today's session and joined the global sell-off amid faded US stimulus hopes and worries over re-surging COVID-19 infections in Europe," said Sumeet Bagadia, Executive Director, Choice Broking. All Sensex constituents closed in the red, except Asian Paints, which recorded marginal gains.

Bajaj Finance was the biggest loser from the pack, declining 4.68 percent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, Reliance Industries and Bharti Airtel. All sectoral indices also closed lower, with BSE telecom, bankex, energy, finance, teck and IT indices declining as much as 3.54 percent.

In the broader market, the BSE mid-cap and small-cap indices dipped up to 1.75 percent.

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Disclaimer: “Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.”
PTI
first published: Oct 15, 2020 07:06 pm

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