Markets witnessed significant selling pressure in the second half of trading as the 30-share BSE benchmark closed 811.68 points or 2.09 percent lower at 38,034.14.
Following the weakness in the stock market, the market capitalization of companies listed on the EEB plummeted by Rs 4,23,139.78 crore to Rs 1,54,76,979.16 crore.
On Friday, the market capitalization of companies listed on the EEB was 1.59.00,118.94 crore.
“Indian benchmarks succumbed to earnings reserve in the second half of the day. They were in sync with global signals that turned negative following rising infections in several countries, including Europe,” said Vinod Nair, Research Director. for Geojit Financial Services.
“Additional restrictions were being considered in Europe following an increase in infections,” he added.
IndusInd Bank was the main loser in the Sensex package, falling 8.67%, followed by Bharti Airtel, Tata Steel, ICICI Bank, M&M, Maruti and Axis Bank, while Kotak Bank, Infosys and TCS were the only three winners. 30- share the list of first-line companies.
“Markets started the week on a weak note and lost almost 2.5%, following their weak global peers. The first half was lackluster. However, significant selling pressure was observed in the second half.
“We believe that the increasing cases of COVID-19 combined with the correction in the US markets spooked investors,” said Ajit Mishra, vice president of research at Religare Broking Ltd.
In the EEB, 2,165 companies fell, 595 advanced and 178 remained unchanged.
In the broader market, EEB’s small-cap and mid-cap indices fell to 3.61 percent.
All BSE sectoral indices closed in the red, with BSE telecoms, real estate, metals and automobiles rising to 5.77 percent.
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