New Delhi: Investors have become poorer by over Rs 10.36 lakh crore in the last four trading sessions as the domestic equity benchmarks extended their losses amid weak global trends.
The Sensex and Nifty closed in the red for the fourth straight session on Friday amid continued selling by foreign institutional investors.
The BSE Sensex ended 427.44 points or 0.72 per cent lower at 59,037.18. The 30-share benchmark has lost 2,271.73 points in four sessions.
In line with the weak trend, the market capitalisation of BSE-listed companies plunged by a massive Rs 10,36,636.17 crore in the last four trading sessions to stand at Rs 2,69,65,801.54 crore.
The market capitalisation of BSE-listed firms had reached a lifetime high of Rs 2,80,02,437.71 crore on Monday.
Barring FMCG, all BSE sectoral indices closed in the red on Friday, led by telecom, consumer durables, realty, capital goods and industrials, which shed as much as 3.03 per cent.
“Indian equity markets corrected this week in line with the global market sell-off. The rise in US bond yields and the expected tightening of monetary policy by Central Banks is weighing on investor sentiments,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Most sectors saw profit booking. The IT sector performed poorly this week with a negative return of around 6 per cent.
“Inflationary pressure, monetary policy tightening, rising bond yields, higher crude oil prices are some key challenges for the global markets. In addition to global factors, the domestic markets would track the Q3FY22 results, management commentary and the Union Budget,” Chouhan added.
PTI
