Over Rs 2 lakh crore of investors’ wealth has been wiped out in a single trading day today. They also got poorer by over Rs 14 lakh crore in just five days as markets tumbled amid global tensions triggered by the Israel-Gaza war and its repercussions in the Middle East.
For the fifth consecutive day, the 30-share BSE Sensex fell 522.82 points, or 0.81 percent, to settle at 64,049.06.
The Nifty fell 159.60 points or 0.83 percent to 19,122.15.
Overseas investors turned net sellers of Indian stocks today as they sold Rs 4,236.60 crore and domestic investors bought Rs 3,569.36 crore.
Foreign institutions have been net buyers of Rs 1,10,584 crore of Indian equities so far in 2023, according to data from the National Securities Depository Ltd, updated to the previous trading day.
Among the Sensex firms, Infosys, Bharti Airtel, NTPC, IndusInd Bank, ICICI Bank, Tata Motors, Larsen & Toubro, Bajaj Finance, Tech Mahindra, Titan and Axis Bank were among those whose shares declined.
Tata Steel, State Bank of India, Maruti, Mahindra & Mahindra, Nestle and JSW Steel won.
“Investor sentiment is on edge as tensions in West Asia continue to drag the market. Despite a drop in oil prices and an optimistic view of the advancing second quarter earnings season, investors took a cautious approach due to the expectation of a higher interest rate scenario . would continue to dampen future growth,” Vinod Nair, head of research at Geojit Financial Services, told news agency PTI.
Global oil benchmark Brent crude rose 0.30 percent to $88.32 a barrel. barrel.
In the Asian markets, Tokyo, Shanghai and Hong Kong were in the green, while Seoul ended lower. European markets traded in negative territory. US markets ended in the green on Tuesday.
There was no stock trading yesterday due to Dussehra.
The S&P BSE Sensex closed 523 points or 0.81 percent at 64,049.06, while the NSE Nifty 50 was 160 points or 0.83 percent lower at 19,122.15.
With input from PTI