Investors lose Rs 3 lakh crore as Sensex slumps 699 points

HDFC, ITC, ICICI Bank, Tata Motors, TCS, SBI, Coal India, Maruti Suzuki and UltraTech lost over Rs 5,000 crore each m-cap.

Total investor wealth declined by over Rs three lakh crore from total investors' wealth on Friday as the Sensex and the Nifty lost over 2% each after a sharp correction non-banking finance companies (NBFCs) and consumer discretionary stocks.

The market capitalisation (m-cap) of BSE-listed companies fell by Rs 3.22 lakh crore to Rs 108.08 lakh crore today. The m-cap stood at Rs 111.30 lakh crore on Thursday, BSE data showed.

The Bombay Stock Exchange (BSE) S&P BSE Sensex lost 2.5% or 699 points to 26,819, while the National Stock Exchange (NSE), Nifty 50 index plunged 2.7% or 229 points to 8,296.

The benchmark indices recorded their sharpest single day fall in past nine months. Earlier, on February 11, 2016, the Sensex fell 3.4%, while Nifty50 index down 3.3%.

Shares of midcap and smallcap companies were under pressure with the S&P BSE Midcap and S&P BSE Smallcap indices falling by 3.6% and 3.4%, respectively. Since March, the midcap and smallcap index had outperformed the market by surging 35% each, against 20% rise in the benchmark index.

“A sudden spike in US bond yields to a 10 – month high, rattled investors in emerging markets like India. There were concerns that policies under the new government, will stoke inflation and inflation rates in the US, thereby sparking capital outflows from emerging markets,” said Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas Mutual Fund.

Delta Corp, Manappuram Finance and Mahindra & Mahindra Financial Services were the largest loser among BSE500 index, fell more than 10% each on Friday.

Dalmia Bharat, Century Textiles, SREI Infrastructure Finance, Shriram City Union Finance, Shriram Transport Finance, Cera Sanitaryware, Dewan Housing Finance (DHFL), JK Laksmi Cement and VIP Industries were down between 8% and 10%.

The mortgage lender Housing Development Finance Corporation (HDFC), ITC and ICICI Bank were the largest loser in absolute terms, lost between Rs 9,000 crore and Rs 9,600 crore m-cap.

Tata Motors, Tata Consultancy Services (TCS), State Bank of India (SBI), Coal India, Maruti Suzuki India and UltraTech Cement lost over Rs 5,000 crore each m-cap.

COMPANY	LATEST	PREV CLOSE	LOSS(%)
DELTA CORP	106.35	121.20	-12.25
MANAPPURAM FIN.	89.90	102.15	-11.99
DALMIA BHAR.	1830.85	2034.15	-9.99
CENTURY TEXTILES	811.45	897.25	-9.56
SREI INFRA. FIN.	79.30	87.55	-9.42
SHRI.CITY UNION.	2060.40	2272.65	-9.34
M & M FIN. SERV.	287.60	317.05	-9.29
SHRIRAM TRANS.	883.10	969.60	-8.92
DEWAN HSG. FIN.	251.40	274.75	-8.50
CERA SANITARY.	2201.10	2404.40	-8.46
V I P INDS.	125.50	136.90	-8.33
JM FINANCIAL	71.00	77.10	-7.91
REPCO HOME FIN	594.45	645.30	-7.88
CENTURY PLY.	202.90	220.05	-7.79
BAJAJ FIN.	857.85	929.60	-7.72
JK LAKSHMI CEM.	413.70	447.45	-7.54
MOTHERSON SUMI	302.20	326.35	-7.40
CAN FIN HOMES	1565.05	1689.40	-7.36
CAPITAL FIRST	595.35	642.45	-7.33
HSIL	319.40	343.90	-7.12