New Delhi, February 27 Investors' wealth eroded by ₹4.98 lakh crore on Friday as markets faced a significant downturn, with the Sensex falling by over 1%, due to fresh outflows of foreign funds and subdued global trends amid rising geopolitical risks.
The 30-share BSE Sensex plunged by 961.42 points or 1.17%, closing at 81,287.19. During the day, it dropped by 1,089.46 points or 1.32%, closing at 81,159.15.
The market capitalization of BSE-listed companies eroded by ₹4,98,603.42 to ₹4,63,50,671.27 (USD 5.10 trillion) in a single day.
"Indian markets continued to consolidate amid weak global cues and rising geopolitical risks, with investor sentiment turning increasingly cautious. The lack of progress in US–Iran nuclear talks has intensified concerns of further escalation of Middle East tensions, while persistent uncertainty related to artificial intelligence is also supporting safe-haven flows," said Vinod Nair, Head of Research, Geojit Investments Limited.
From the Sensex pack, Sun Pharma, Bharti Airtel, Mahindra & Mahindra, Bajaj Finserv, InterGlobe Aviation, and Maruti were among the major laggards.
HCL Tech, Trent, Infosys, Eternal, and NTPC were the gainers.
Among sectoral indices, realty declined by 2.25%, telecommunication (1.83%), auto (1.81%), metal (1.57%), commodities (1.56%), FMCG (1.52%), and financial services (1.50%).
IT and BSE Focused IT were the only gainers.
"Markets traded under pressure on Friday and ended sharply lower, extending the corrective trend amid weak cues. Investor sentiment weakened due to a combination of factors, including inconsistent foreign flows, weak global cues, and lingering geopolitical tensions," said Ajit Mishra – SVP, Research, Religare Broking Ltd.
The BSE smallcap select index declined by 0.84%, and the midcap select index dipped by 0.71%.
A total of 2,528 stocks declined, while 1,660 advanced and 181 remained unchanged on the BSE.
