Market mayhem: Investors lose Rs 11.31 lakh cr in six days

New Delhi: Investors have lost a whopping Rs 11,31,815.5 crore in six days of market declines, with concerns over economic recovery sapping risk appetite.

Falling for the sixth straight session, the BSE Sensex plunged 1,114.82 points or 2.96 per cent to close at 36,553.60 on Thursday, tracking a heavy selloff in global markets.

The market capitalisation of BSE-listed companies stood at Rs 1,48,76,217.22 crore, down by Rs 11,31,815.5 crore in six sessions.

Since September 16, the 30-share BSE benchmark index has fallen by 2,749.25 points.

In Thursday's trade, barring Hindustan Unilever, all Sensex constituents ended in the red.

IndusInd Bank emerged as the biggest laggard, falling 7.10 per cent, followed by Bajaj Finance, M&M, Tech Mahindra, TCS, Tata Steel ICICI Bank and Infosys.

"The looming uncertainty over stimulus package in the US combined with issue of rising COVID cases worldwide have raised concerns over economic recovery," said

Ajit Mishra, VP - Research, Religare Broking Ltd.

In the broader market, the BSE smallcap and midcap indices skidded up to 2.28 per cent.

At the BSE, a total of 2,025 companies declined, while 625 advanced and 162 remained unchanged. All sectoral indices closed the day with losses, with BSE IT index dropping 4.45 per cent, followed by teck, auto, metal, realty, basic materials, bankex and finance.

Similarly, the NSE Nifty tanked 326.30 points or 2.93 per cent to close at 10,805.55.

The Sensex has now lost 2,749.25 points in six days, while the Nifty has declined by 799 points.

"Weak global cues coupled with worrying data points from the US led to a gap down start today even as the re-emergence of the virus rattled the Euro zone. Indices here saw deep cuts led by TCS and Infosys as both along with RIL were the ones which led the recovery in the last five months.

All sectoral indices closed with losses, with BSE IT index dropping 4.45 per cent,

followed by teck, auto, metal, realty, basic materials, bankex and finance.

The BSE mid-cap and small-cap gauges lost as much as 2.28 per cent.

In the forex market, the rupee depreciated 32 paise to finish at 73.89 against the US dollar.

In rest of Asia, South Korea's KOSPI index plunged 2.59 per cent. Markets in Shanghai, Tokyo and Hong Kong closed with losses of up to 1.82 per cent.

Bourses in Europe too started off on a weak note.

Meanwhile, global oil benchmark Brent crude was trading 0.22 per cent lower at $41.68 per barrel.