Market Mayhem: Sensex Slump Spurs Investor Losses
Market investors suffered a loss of Rs 8.90 lakh crore as the Sensex dropped for the sixth consecutive session. The BSE Sensex fell 638.45 points, led by selling in key stocks, amid mixed global cues and outflows of foreign funds. Foreign investors shifted focus to cheaper markets.
- Country:
- India
The financial market faced a significant setback as investors lost Rs 8.90 lakh crore with Sensex declining for the sixth day in a row, ending sharply lower on Monday. The downturn was largely influenced by substantial sell-offs in major stocks due to varied global trends and withdrawal of foreign capital.
The valuation of companies listed on the Bombay Stock Exchange fell drastically, losing Rs 8,90,153.84 crore, settling at Rs 4,51,99,444.70 crore. This decline marks a worrying trend as the BSE Sensex plunged 638.45 points to 81,050, with an intraday low of 80,726.06.
Besieged by geopolitical tensions in the Middle East and lackluster corporate earnings, market sentiment weakened further. Indian shares saw foreign investors reallocate their portfolios to cost-effective markets in China and Hong Kong. Despite the market downturn, a few stocks like Mahindra & Mahindra, ITC, and Infosys managed to hold firm.
(With inputs from agencies.)
- READ MORE ON:
- market
- investors
- Sensex
- loss
- foreign-funds
- BSE
- economy
- stocks
- Adani-Ports
- trading
ALSO READ
China Slashes Reserve Ratios and Interest Rates to Bolster Economy
China's central bank reduces required reserves for lenders, part of a slew of moves to support the slowing economy, reports AP.
China's Central Bank Takes Bold Steps to Revitalize Economy
Unlocking the Digital Economy: How Electronic Signatures Drive Trust and Security
China Unveils Major Stimulus Package to Revive Economy Amid Deflation Concerns
Google News