Investors lose Rs 11.4 trillion in 6 days; selling overdone, say analysts

Among sectors, refineries, financials including banks and information technology (IT) have seen more than Rs 1-trillion market-cap erosion in the past six sessions.

Continuous selling for six sessions in the Indian markets in line with global peers that have tumbled as coronavirus fears escalated has shaken investor confidence and made a serious dent in their portfolios. Total investor wealth, as measured by cumulative market value of all listed stocks on the BSE, has dropped by Rs 11.4 trillion in the past six trading days to Rs 147 trillion – its lowest level since October 16, 2019, exchange data show.

On Friday, the S&P BSE Sensex tumbled 3 per cent, or 1181 points, in intra-day deals to 38,565 levels. From a level of 41,323