Investors become poorer by Rs 3.97 lakh crore in two days of market crash
New Delhi: Falling for the second consecutive session, markets ended in red on Friday with Sensex and Nifty both posting 1.3 percent drop.
The benchmark BSE Sensex plunged 463.95 points or 1.33 percent to end at 34,315.63. Similarly the NSE Nifty dropped 149.50 points or 1.43 percent to 10,303.55.
Led by the sharp sell-off in equities, the market capitalisation of BSE-listed companies tumbled Rs 397837.85 crore to Rs 1,37,03,500.99 crore on Friday as against market capitalisation of Rs 1,41,01,338.84 on Wednesday. The BSE benchmark Sensex snapped its three-day gains on Wednesday, plunging 383 points.
Stock exchanges were closed on Thursday on account of “Dussehra”.
Heavy selling pressure was witnessed in IT, auto and consumer durable stocks. Shares of Reliance Industries took a severe hit despite posting highest ever Q2 growth. RIL shares ended down over 4.11 percent lower on concerns of its heavy debt and delay in the company`s key refining project, while its gross refining margin fell.
The RBI permitted banks to use government securities equal to their incremental outstanding credit to NBFCs, over and above their outstanding credit to them as on October 19, to be used to meet liquidity coverage ratio requirements. It also increased single borrower exposure limit to non-infra NBFCs to 15 per cent from 10 per cent.
Indiabulls Housing Finance, Dewan Housing Finance, IL&FS Engineering and Construction dropped up to 16.55 per cent.
Yes Bank was the worst performer in the Sensex pack, losing a whopping 6.06 per cent, after the RBI refused to grant more time to its long serving CEO and MD Rana Kapoor and asked the private sector lender to appoint his successor latest by February 1, 2019.
Other laggards were HDFC Ltd, Reliance, Heromoto Corp, Infosys, Tata Motors, M&M, Axis Bank, Maruti, IndusInd Bank, Bajaj Auto and Asian Paints.
Among the winners, Sun Pharma, Kotak Bank, Vedanta Ltd, HUL, ITC, Adani Ports, Powergrid, and ICICI bank, rising by upto 2.52 points.
With PTI Inputs
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Source:Zee news
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