New Delhi, March 4 Equity investors lost Rs 16.32 lakh crore in the two-day stock market fall following the escalation of the conflict involving the US, Israel, and Iran.
On Wednesday, the 30-share BSE Sensex fell by 1,122.66 points or 1.40 per cent, closing at 79,116.19. During the day, it dropped by 1,795.65 points or 2.23 per cent, closing at 78,443.20. Since Friday, the BSE benchmark has lost 2,171 points or 2.67 per cent amid the onset of hostilities between Iran and the US-Israel since February 28.
The market capitalization of BSE-listed companies eroded to Rs 4,47,18,243.15 crore (USD 4.85 trillion) from Rs 16,32,428.12 crore since last Friday.
Equity markets were closed on Tuesday for Holi.
"Markets traded with a negative bias on Wednesday, extending their recent corrective trend amid weak global cues and persistent geopolitical concerns. Investor sentiment remained fragile amid weak global signals, high crude oil prices, and lingering uncertainty surrounding geopolitical developments. Continued foreign institutional selling and currency volatility further dampened confidence," said Ajit Mishra, SVP Research, Religare Broking.
Brent crude, the global oil benchmark, jumped 1.63 per cent to USD 82.73 per barrel.
From the Sensex pack, Tata Steel fell by 6.76 per cent, followed by Larsen & Toubro (4.53 per cent). Bajaj Finance, UltraTech Cement, NTPC, InterGlobe Aviation, Bajaj Finserv, and Hindustan Unilever were also among the laggards.
Bharti Airtel, Infosys, and Tech Mahindra were the gainers.
The BSE smallcap select index fell by 2.42 per cent, and the midcap select index dropped by 2.10 per cent.
Among sectoral indices, metal plunged by 4 per cent, BSE PSU Bank (3.50 per cent), industrials (3.29 per cent), realty (3.16 per cent), commodities (3.12 per cent), capital goods (2.64 per cent), power (2.59 per cent), services (2.25 per cent), and energy (2.23 per cent).
A total of 3,245 stocks declined, while 1,053 advanced and 135 remained unchanged on the BSE.
Asian markets ended with significant cuts. South Korea's Kospi tumbled by 12 per cent. Japan's Nikkei 225, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index also ended significantly lower.
