Investor wealth eroded by Rs 6.59 trillion on Monday as equities tanked after the UK reported a brand new pressure of the COVID-19 virus.
The 30-share BSE Sensex plunged 1,406.73 factors or 3 per cent to shut at 45,553.96. The benchmark hit an all-time excessive of 47,055.69 throughout the session.
Following the sharp promoting, the market capitalisation of BSE-listed corporations plummeted by Rs 6,59,313.65 crore to Rs 1,78,79,323.05 crore.
“Brutal massacre witnessed in as we speak’s session after a brand new coronavirus pressure was present in Britain. Market prolonged losses in late afternoon session, monitoring sell-off within the European markets amid concern of contemporary travelling lockdown restrictions throughout nations.
“Uncertainties over the Brexit deal additionally dented the traders’ sentiments,” mentioned Sumeet Bagadia, Government Director, Alternative Broking.
International markets have been knocked off highs after the UK authorities reported a brand new pressure of the coronavirus that was as much as 70 per cent extra contagious.
The UK imposed a contemporary lockdown in London and southeast England, warning that the potent new pressure of the COVID-19 virus was “uncontrolled”.
All 30 Sensex firms closed the day with losses, with ONGC tanking essentially the most by 9.15 per cent, adopted by Indusind Financial institution, M&M, SBI, NTPC and ITC which shed as much as 6.98 per cent.
“Issues of latest COVID-19 strains within the UK and rising doubts over efficacy of COVID-19 vaccination dented traders’ sentiments globally.
“Indian markets have been the worst performer as we speak… profit-booking may be a key cause as home equities have outperformed international markets by a large margin in latest months,” mentioned Binod Modi, Head Technique at Reliance Securities.
Within the broader market, the BSE mid-cap and small-cap indices tanked as much as 4.57 per cent.
All BSE sectoral indices additionally closed decrease, with steel, oil and fuel, utilities, realty, primary supplies, industrials, energy and bankex falling as a lot as 6.05 per cent.
On the BSE, 2,433 firms declined, whereas 592 superior and 167 remained unchanged.
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