NEW DELHI: Investor wealth declined by Rs 2,24,978.33 crore on Wednesday as equity markets tumbled from all-time highs in earnings reserve.
Breaking a three-session winning streak, the 30-share BSE sensex finished 694.92 points or 1.56 percent lower at 43,828.10.
The market capitalization of companies listed on the EEB decreased by Rs 2,24,978.33 crore to stand at Rs 1,72,56,942.95 crore.
“After posting a strong rally in recent sessions, the market turned negative from the all-time highs in today’s session and finished 1.5% lower as profit booking emerged across all indices Investors ignored the positive global signals as investors remained cautious and posted gains at the prevailing rich market valuation, “said Sumeet Bagadia, CEO of Choice Broking.
Kotak Bank was the main loser in the sensex package, falling 3.22%, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints.
On the other hand, ONGC, PowerGrid and IndusInd Bank were the winners.
In the broader market, BSE’s mid-cap and small-cap indices fell as much as 1.76 percent.
In the EEB, 1,662 companies fell, 1,126 advanced and 176 remained unchanged.
The BSE telecommunications, real estate, banking, healthcare, auto and capital goods indices fell as much as 2.20 percent, while oil and gas closed higher.
“The market recovery that was led by developments in vaccine and FPI inflows came to a halt today due to profit booking in the sectors in the second half of the trading session,” said Vinod Nair, Head of Research at Geojit Financial Services.
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