Investors Lost Rs 1.67 Lakh Crore As Stocks Tumble
321 stocks in India’s braoder market hit their 52-week low on Friday.
Investors’ wealth on Friday eroded by Rs 1.67 lakh crore following a sharp selloff in the broader market where the BSE Sensex plummeted nearly 425 points.
The 30-share Sensex cracked 424.61 points, or 1.15 percent, to close at 36,546.48.
Following the weak sentiment, the market capitalisation of BSE-listed companies dropped Rs 1.67 lakh crore to Rs 141.07 lakh crore.
“The market slid as renewed worries over global trade and profit-booking in the domestic market after the solid performance in the last one week due to interim budget and Reserve Bank of India’s policy,” Vinod Nair, head of research, Geojit Financial Services Ltd., said.
Of the 30-share pack, 25 stocks ended with losses. Tata Motors took the steepest hit of 17.28 percent. Sectorally, the BSE Metal Index plunged 3.42 per cent, while the auto gauge shed 3.37 per cent.
On the BSE, 1,616 stocks declined and 923 advanced, while 111 remained unchanged. Also, 321 stocks hit their 52-week low.