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Stock market plunge washes away nearly Rs 5 trillion investor wealth

On BSE, 2,221 stocks declined, while 169 advanced and 83 remained unchanged

Press Trust of India  |  New Delhi 

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Investors lost around Rs 4.95 trillion amid sell-off in the broader market on Tuesday where the benchmark tumbled 1,275 points or 3.6 per cent in opening trade.

The cracked below the 34,000-mark by plunging about 1,275 points or 3.6 per cent in opening trade today due to across-the-board losses after investor sentiment was hit by a sell-off in world

Following the downfall, the total market capitalisation of listed companies eroded by Rs 4.95 trillion to Rs 14.3 trillion.

Extending its falling streak for the sixth straight session, the 30-share index fell by 1,274.35 points, or 3.66 per cent, to 33,482.81 with all sectoral indices led by realty, consumer durables, metal and banking tradings in the negative zone.

On BSE, 2,221 stocks declined, while 169 advanced and 83 remained unchanged.

Domestic brokerage firm Angel Broking in a report today said that a fall in Indian is likely amid sell off in global indices.

"US stocks suffered one of their worst days in recent history in the last trading session, as continued to throw a tantrum over rising interest rates. The Dow Jones ended on downside of 4.6 per cent to close at 24,346 and the Nasdaq Composite edged down to 3.8 per cent, to 6,968," it said.

Moreover, UK shares tumbled as a strong US jobs report reinforced the Fed's outlook for three interest-rate hikes this year and investors looked ahead to a new round of talks between the UK and European Union. The FTSE 100 was down by 1.5 per cent to close at 7,335, it added.

First Published: Tue, February 06 2018. 12:41 IST
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