NEW DELHI: Investors have lost a whopping Rs 11,31,815.5 crore in six days of market declines, and concerns about the economic recovery weaken appetite for risk.
Falling for the sixth consecutive session, the EEB Sensex It fell 1,114.82 points or 2.96 percent to close at 36,553.60 on Thursday, following a strong selloff in world markets.
The market capitalization of companies listed on the EEB stood at Rs 1,48,76,217.22 crore, down from Rs 11,31,815.5 crore in six sessions.
Since September 16, the 30-share BSE benchmark has fallen 2,749.25 points.
In Thursday’s trade, except for Hindustan Unilever, all Sensex components finished in the red.
IndusInd Bank emerged as the furthest behind, falling 7.10%, followed by Bajaj Finance, M&M, Tech Mahindra, TCS and Tata Steel.
“The looming uncertainty about the stimulus package in the US combined with the problem of increasing COVID cases around the world has raised concerns about the economic recovery,” said Ajit Mishra, vice president of research at Religare Broking Ltd.
In the broader market, EEB’s small-cap and mid-cap indices slipped as much as 2.28 percent.
In EEB, a total of 2,025 companies declined, while 625 advanced and 162 were unchanged.
All industry indices ended the day with a loss, with the BSE IT index falling 4.45%, followed by teck, auto, metal, real estate, basic materials, bankex and finance.
“Uncertainty regarding the economic recovery, the steady increase in virus infections and the expiration day of derivatives contributed to the negativity,” said Vinod Nair, director of research at Geojit Financial Services.
Sumeet Bagadia, CEO of Choice Broking, said that fears about new shutdown restrictions in Europe amid mounting infections and uncertainty about the US stimulus package.
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