NEW DELHI: Investors‘ wealth eroded by Rs 7.59 lakh crore on Monday because the fairness market took a heavy drubbing amid escalating tensions within the Middle East.
The 30-share BSE Sensex plunged 825.74 factors or 1.26 per cent to settle at 64,571.88 factors. During the day, the index plummeted 894.94 factors or 1.36 per cent to 64,502.68 factors.
This is the fourth consecutive session of decline for the benchmark index and in 4 days, the BSE benchmark has dropped by 1,856.21 factors or 2.79 per cent.
Amid weak pattern in equities, the market capitalisation of BSE-listed companies fell by Rs 12,51,700.73 crore in 4 days of market crash to succeed in Rs 3,11,30,724.40 crore.
On Monday alone, the market valuation of the BSE-listed firms plummeted Rs 7,59,041.63 crore.
“Benchmark indices witnessed severe pounding in the last hour trades as simmering geopolitical tension in the Middle East region triggered a wave of selling pressure and prompted investors to offload equity holdings.
“Investors are already nervous about additional rate of interest hike and inflation, and with the addition of the Israel-Hamas battle, the uncertainty has elevated additional and resulting in weak sentiment in international equities,” Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd, said.
Among the Sensex firms, JSW Steel, Tata Steel, Tata Consultancy Services, Tata Motors, Wipro, IndusInd Bank, HCL Technologies, NTPC, State Bank of India and Larsen & Toubro were the major laggards.
Bajaj Finance and Mahindra & Mahindra were the gainers.
Global oil benchmark Brent crude climbed 0.04 per cent to USD 92.18 a barrel.
In the broader market, the BSE smallcap gauge cracked 4.18 per cent and midcap index dropped 2.51 per cent.
“Fear of regional battle within the Middle East and worries over extra price hikes by the US Federal Reserve for an prolonged interval had been the most important explanation for concern available in the market. Even the incomes season has been blended up to now, thus not offering resilience to the market,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, mentioned.
All the indices ended decrease, with telecommunication plunging 3.82 per cent, industrials falling 3.26 per cent, utilities (3.10 per cent), commodities (3.06 per cent), providers (2.99 per cent), realty (2.84 per cent), energy (2.69 per cent), shopper discretionary (2.25 per cent), IT (2.14 per cent) and oil & gasoline (1.88 per cent).
A complete of three,196 companies declined whereas 638 superior and 156 remained unchanged on the BSE.
The 30-share BSE Sensex plunged 825.74 factors or 1.26 per cent to settle at 64,571.88 factors. During the day, the index plummeted 894.94 factors or 1.36 per cent to 64,502.68 factors.
This is the fourth consecutive session of decline for the benchmark index and in 4 days, the BSE benchmark has dropped by 1,856.21 factors or 2.79 per cent.
Amid weak pattern in equities, the market capitalisation of BSE-listed companies fell by Rs 12,51,700.73 crore in 4 days of market crash to succeed in Rs 3,11,30,724.40 crore.
On Monday alone, the market valuation of the BSE-listed firms plummeted Rs 7,59,041.63 crore.
“Benchmark indices witnessed severe pounding in the last hour trades as simmering geopolitical tension in the Middle East region triggered a wave of selling pressure and prompted investors to offload equity holdings.
“Investors are already nervous about additional rate of interest hike and inflation, and with the addition of the Israel-Hamas battle, the uncertainty has elevated additional and resulting in weak sentiment in international equities,” Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd, said.
Among the Sensex firms, JSW Steel, Tata Steel, Tata Consultancy Services, Tata Motors, Wipro, IndusInd Bank, HCL Technologies, NTPC, State Bank of India and Larsen & Toubro were the major laggards.
Bajaj Finance and Mahindra & Mahindra were the gainers.
Global oil benchmark Brent crude climbed 0.04 per cent to USD 92.18 a barrel.
In the broader market, the BSE smallcap gauge cracked 4.18 per cent and midcap index dropped 2.51 per cent.
“Fear of regional battle within the Middle East and worries over extra price hikes by the US Federal Reserve for an prolonged interval had been the most important explanation for concern available in the market. Even the incomes season has been blended up to now, thus not offering resilience to the market,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, mentioned.
All the indices ended decrease, with telecommunication plunging 3.82 per cent, industrials falling 3.26 per cent, utilities (3.10 per cent), commodities (3.06 per cent), providers (2.99 per cent), realty (2.84 per cent), energy (2.69 per cent), shopper discretionary (2.25 per cent), IT (2.14 per cent) and oil & gasoline (1.88 per cent).
A complete of three,196 companies declined whereas 638 superior and 156 remained unchanged on the BSE.
