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US-Iran tensions: Investors become poorer by over Rs 3 trn in 2 days

The Sensex had ended 162.03 points, or 0.39 per cent, lower at 41,464.61 on Friday as well

Press Trust of India  |  Mumbai 

BSE, Bombay stock exchange

Investor wealth tumbled by a whopping Rs 3.36 trillion in two successive sessions of decline in the equity market following escalation in tensions in West Asia.

The equity fell for a second consecutive session, with the 30-share key BSE index plummeting 787.98 points, or 1.90 per cent, to close at 40,676.63, on Monday. During the trade, it dropped 850.65 points to 40,613.96.

The Sensex had ended 162.03 points, or 0.39 per cent, lower at 41,464.61 on Friday as well.

Led by the weakness in equities in two consecutive trading sessions, the market capitalisation of BSE-listed companies plunged by Rs 336,559.82 crore to Rs 15,390,312.60 crore.

US-Iran tensions: Investors become poorer by over Rs 3 trn in 2 days

“The Indian started the week on a negative note amid escalation of geopolitical tensions between the US and Iran. The rising crude oil prices and the adverse rupee movement, too, impacted the sentiment,” said Ajit Mishra of Religare Broking-Research.

“Among the broader markets, the BSE MidCap and SmallCap underperformed. All the sectoral indices witnessed heavy selling pressure and ended with losses, wherein auto, banking, and metals were the biggest losers," he added. US President Donald Trump on Sunday vowed “major retaliation” if Iran tries to avenge the killing of its key military commander Qasem Soleimani. On the Sensex chart, Bajaj Finance was the top loser, dropping 4.63 per cent, followed by SBI, IndusInd Bank, Maruti, and HDFC.

At the BSE, 1,944 stocks declined, while 604 advanced and 181 remained unchanged. The S&P BSE SmallCap index closed 1.96 per cent lower, while the BSE MidCap index fell 2.31 per cent.


US-Iran tensions: Investors become poorer by over Rs 3 trn in 2 days

First Published: Tue, January 07 2020. 01:38 IST
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