You are here: Home » Markets » Stocks » Index Composition
Business Standard

Investor wealth slumps by Rs 3.7 trillion as equity markets tank

The equity market recorded its biggest single-day fall in two months

Topics
Stock market crash | Indian equities | Sensex

Press Trust of India  |  New Delhi 

BSE, sensex, market, shares, stocks, trading, brokers, investment, investors, growth, results, Q, earnings
Bombay Stock Exchange | File

Investor wealth slumped by Rs 3.7 trillion on Monday, as the equity market recorded its biggest single-day fall in two months.

At the close of trade, the total market capitalisation of BSE listed companies eroded by Rs 3,71,883.82 crore to Rs 2,00,26,498.14 crore.

The total market capitalisation of BSE listed companies stood at Rs 2,03,98,381.96 crore on February 19.

Spiralling lower for the fifth straight session, the plummeted 1,145 points or 2.25 per cent to close at 49,744.32. The broader NSE Nifty sank 306.05 points or 2.04 per cent to finish at 14,675.70.

"The market failed to show resilience to stay above the Nifty 50 Index level of 14,750. While it is subject to further price action evolution, the technical factors shifted today to support a further correction in the future," said Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited.

Biswas further said any corrective wave down should find support around 14,500-14,300.

"Traders are refraining from building a new buying position until we witness a correction till 14,300-14,500 level. The volatility is observed to expand in today's trading session indicating profit booking and stock distribution at a higher market level," he noted.

Sector-wise, BSE energy, realty, IT, teck, auto and capital goods indices skidded up to 2.92 per cent, while metal and basic materials ended with gains.

Broader BSE midcap and smallcap indices fell up to 1.34 per cent.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, February 22 2021. 18:18 IST
RECOMMENDED FOR YOU