Dalal Street Bleeds: Investors lose Rs 8.35 lakh crore in 2 days; Equity tumble amidst the flare in the Middle East
Equity investors suffered heavy losses in the last two trading sessions, as rising stress and global crude oil prices in the Middle East were wiped out of Rs 8.35 lakh crore from their portfolio.The NSE benchmark Nifty slipped 169.6 points or 0.68%, closed at 24,718.The benchmark Bsesensex continued its downward streak for the second straight day on Friday, which closed at 573.38 points or 0.70% less 81,118.60. Earlier in the session, the index had dipped as a 1,337.39 points to hit the intraad lower of 80,354.59. In two days, Sensex has shed 1,396.54 points or 1.69%.Investors were seen in money due to sale, with a joint market capitalization of BSE-list companies, Rs 8,35,799.85 crore was Rs 8,47,21,343.34 crore or Rs 5.19 trillion dollars.Brent crude, global oil benchmark increased by 7.61% to $ 74.64 per barrel.Siddharth Khemka, head of wealth management heads at Motelle Oswal Financial Services Limited, said, “Indian equities fell rapidly, reacting to weak global signals and Israel started military attacks on Iran today after an increase in crude oil prices.” Khemka said that the raw price increase in raw prices pulled the rupee down and triggered sales pressure in OMC, paint, tires and other lubricant stocks.Lemon Markets Desk analyst Satish Chandra Aluri said, “Indian equity markets ended a sharp sales on Friday, in which both Nifty -50 and Sensx shut down their intra -day offering, but are still shutting down with significant losses.”AMong Sensex’s 30 stock packs were the worst performing components Adani Port, ITC, State Bank of India, IndusInd Bank, HDFC Bank, Titan, Kotak Mahindra Bank and UltraTech Cement.Meanwhile, Tech Mahindra, Tata Consultancy Services, Maruti Suzuki and Sun Pharma managed to end in Green.Sectorley, BSE Services Index was the most difficult killed, declined by 2.06%, followed by bankcx (1.01%), FMCG (0.94%), financial services (0.85%), metal (0.81%), and power (0.75%). Healthcare and real estate were the only sector to enter benefits.Overall, the Dalal Street ended in red, with 2,469 shares falling down, 1,516 were finished on advance and 137 BSE flats ended.
