Investors wealth declines by Rs 24.69 lakh crore in four days of market decline

NEW DELHI: Investors in the past four trading sessions have lost cumulative wealth of amounting to Rs 24.69 lakh crore, majorly due to weakened investor sentiment, rising global crude prices, continuous foreign fund outflows, robust US employment data affecting early rate cut prospects, and the rupee recording its largest single-day decline in approximately two years.

The Sensex declined by 1,869.1 points or 2.39 per cent over this period.

The BSE benchmark index continued its downward trend on Friday and fell by 1,048.90 points (1.36 per cent) to settle at closing at 76,330.01.

Additionally, the total market capitalisation of BSE-listed companies decreased by Rs 24,69,243.3 crore to Rs 4,17,05,906.74 crore ($4.82 trillion) in four trading sessions and on Monday alone, investors wealth declined by Rs 12.61 lakh crore.

"Continued foreign institutional investor selling crossed Rs 20,000 crore this month, contributing to the negative sentiments. Indian rupee touched a fresh low against the dollar during the session, pressured by stronger-than-expected US non-farm payrolls data which further dampened the sentiment, resulting in a firm dollar index," Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.

"Meanwhile, oil prices hit their highest level in over three months amid expanded US sanctions disrupting Russian crude supplies, further adding to global uncertainties," he added.

On the BSE, 3,562 stocks showed decline, while 555 advanced and 131 remained unchanged.

Among the 30 major stocks, Zomato witnessed a decline of over 6.50 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Mahindra & Mahindra, Asian Paints, Tech Mahindra, UltraTech Cement, and Sun Pharma were other major losers on the BSE.

Additionally, 508 stocks reached their 52-week lows, while 120 stocks achieved their one-year peak. The BSE midcap index fell by 4.17 per cent, and the smallcap index decreased by 4.14 per cent.

All BSE sectoral indices ended in negative territory. Realty declined by 6.59 per cent, followed by utilities (4.38 per cent), services (4.35 per cent), power (4.23 per cent), industrials (4.09 per cent), consumer discretionary (4.04 per cent), consumer durables (3.96 per cent), and commodities (3.69 per cent).

The international Brent crude prices increased by 1.43 per cent, reaching $80.90 per barrel.

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