New Delhi: Investors’ wealth eroded by Rs 7.59 lakh crore on Monday as the equity market took a heavy drubbing amid escalating tensions in the Middle East.
Benchmark equity indices Sensex and Nifty plunged more than 1 per cent on Monday, falling for the fourth day running, amid weak trends in global markets in view of heightened tensions in the Middle East. Crude oil quoting above $90 a barrel mark also played spoilsport for the markets. In a broad-based sell-off, the 30-share BSE Sensex plunged 825.74 points or 1.26 per cent to settle at 64,571.88. During the day, it plummeted 894.94 points or 1.36 per cent to 64,502.68.
A total of 3,196 firms declined, while 638 advanced and 156 remained unchanged on the BSE.
The Nifty fell 260.90 points or 1.34 per cent to 19,281.75.
This is the fourth consecutive session of decline for the benchmark index and in four days, the BSE benchmark has dropped by 1,856.21 points or 2.79 per cent.
In the four sessions since Wednesday, Sensex tanked 1,925 points to fall below the 65,000 mark, while Nifty plunged by around 530 points.
Amid weak trend in equities, the market capitalisation of BSE-listed firms fell by Rs 12,51,700.73 crore in four days of market crash to reach Rs 3,11,30,724.40 crore.
On Monday alone, the market valuation of the BSE-listed companies plummeted Rs 7,59,041.63 crore.
Among the Sensex firms, JSW Steel, Tata Motors, Tata Steel, Tata Consultancy Services, NTPC, Wipro, HCL Technologies, State Bank of India, Larsen & Toubro, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Power Grid and Reliance Industries Limited were the major laggards.
Mahindra & Mahindra and Bajaj Finance were the gainers.
In the broader market, the BSE smallcap gauge cracked 4.18 per cent, and the midcap index dropped 2.51 per cent.
All the indices ended lower, with telecommunication plunging 3.82 per cent, industrials falling 3.26 per cent, utilities (3.10 per cent), commodities (3.06 per cent), services (2.99 per cent), realty (2.84 per cent), power (2.69 per cent), consumer discretionary (2.25 per cent), IT (2.14 per cent) and oil & gas (1.88 per cent).
In Asian markets, Seoul, Tokyo and Shanghai settled lower.
European markets were trading with cuts. The US markets ended in negative territory on Friday. Global oil benchmark Brent crude climbed 0.04 per cent to $92.18 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 456.21 crore on Friday, according to exchange data.
Equity markets will remain closed on Tuesday on account of Dussehra.
The BSE benchmark fell 231.62 points or 0.35 per cent to settle at 65,397.62 on Friday. The Nifty declined 82.05 points or 0.42 per cent to 19,542.65.