Equity investors lost ₹9.69 lakh crore over two days as the Sensex fell 1,555 points.
The US imposed an additional 25% tariff on Indian goods, taking total levies to 50%, affecting investor sentiment.
Foreign fund outflows also contributed to the market decline.
On Thursday, BSE Sensex dropped 705.97 points (0.87%) to 80,080.57, hitting an intra-day low of 80,013.02.
Investors' Wealth Erodes by ₹9.69 Lakh Cr in Two Days of Sharp Fall in Stock Market
The additional 25% tariff imposed by the US on India came into effect on Wednesday, bringing the total amount of levies imposed on New Delhi to 50%
Investor Wealth Freepik
Summary
Advertisement
Equity investors became poorer by ₹9.69 lakh crore in two days of sharp fall in the stock markets, where the benchmark Sensex tumbled 1,555 points.
The additional 25% tariff imposed by the US on India came into effect on Wednesday, bringing the total amount of levies imposed on New Delhi to 50%.
Also, relentless foreign fund outflows dented investors' sentiment.
On Thursday, the 30-share BSE Sensex tanked 705.97 points or 0.87% to settle at 80,080.57. During the day, it dropped 773.52 points or 0.95% to 80,013.02.
In two days, the benchmark has plummeted 1,555.34 points or 1.90%.
The market capitalisation of BSE-listed firms declined by ₹9,69,740.79 crore to ₹4,45,17,222.66 crore (USD 5.08 trillion) in two days.
"Domestic equities ended lower as pessimism took hold following the implementation of tariffs on Indian goods, dampening investor sentiments.
"While the cotton import duty exemption briefly lifted hopes of policy support to counter tariff impacts, triggering a short-lived intra-day recovery, investor mood remained fragile, with large caps declining and mid and small caps underperforming amid risk-off sentiment," Vinod Nair, Head of Research at Geojit Investments Limited, said.
Advertisement
The domestic equity markets were closed on Wednesday on account of Ganesh Chaturthi.
From the Sensex firms, HCL Tech, Infosys, Power Grid, Tata Consultancy Services, HDFC Bank, Hindustan Unilever, Bharti Airtel and ICICI Bank were among the major laggards.
However, Titan, Larsen & Toubro, Maruti and Axis Bank were among the gainers.
The BSE midcap gauge dropped 1.09% and the smallcap index declined 0.96%.
Among BSE sectoral indices, services tumbled 2.27%, telecommunication (1.73%), IT (1.68%), BSE Focused IT (1.59%), teck (1.59%), realty (1.47%) and utilities (1.26%).
Consumer Durables emerged as the only gainer.
As many as 2,651 stocks declined while 1,458 advanced and 149 remained unchanged on the BSE.
Show comments