Moneycontrol
Last Updated : Oct 11, 2018 05:15 PM IST | Source: Moneycontrol.com

Sensex’s 750-pt fall erodes investor wealth worth Rs 2.63 lakh crore

Market capitalisation of BSE fell to Rs 135.7 lakh crore from the m-cap of Rs 138.3 lakh crore on October 10

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Investors in the equity market lost wealth to the tune of Rs 2.63 lakh crore on October 11 as a result of the collapse seen on indices.

The market capitalisation of BSE fell to Rs 135.7 lakh crore from the m-cap of Rs 138.3 lakh crore on October 10.

Sell-off in global markets along with a weak rupee back home weighed big on local indices, with the Sensex shedding over 750 points. The Nifty ended below 10,250-mark.

Global markets were lower as there were concerns over rising interest rates in the US. US President Donald Trump also said that the recent fall was, in fact, long awaited.

A weak rupee also dented sentiment through the day, as the currency plunged to record low of 74.48 per US dollar. Having said that, there was a recovery in the currency in the last couple of hours, and it was trading around 74.05 per US dollar at the time of writing this story.

Among sectors, banking, particularly PSU banks saw maximum pain, along with metals, automobiles, pharmaceuticals, and IT. A recovery in rupee from record lows failed to impact positively.

At the close of market hours, the Sensex closed down 759.7 points or 2.2 percent at 34,001.2, while the Nifty ended lower by 225.4 points or 2.2 percent at 10,234.7.

Yes Bank, ONGC, HPCL and IOC were the top gainers, while State Bank of India, Tata Steel, Indiabulls Housing Finance and Bajaj Finserv lost the most.
First Published on Oct 11, 2018 05:14 pm
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