Stock investors lose Rs 2.72 lakh crore in two days of market fall

Stock investors lose Rs 2.72 lakh crore in two days of market fall thumbnail
NEW DELHI: Stock investors became poorer by Rs 2.72 lakh crore in two days of market fall which saw the BSE benchmark index diving almost 800 points.

Market benchmark BSE Sensex Tuesday tumbled by about 295 points or 0.78 per cent to close at 37,290.67 due to increasing crude oil prices and mounting trade tension.

Markets hit by late jolts, Sensex loses nearly 300 points again

30-share BSE Sensex lost 294.84 points to close at 37,290.67. The index has now lost to the tune of as much as 1,700 points in the last 20 days. The broader 50-share NSE Nifty also lost nearly a per cent on Tuesday and closed at 11,278.90, down 98.85 points.

It had lost 505.13 points or 1.33 per cent on Monday as rupee woes and trade war worries spooked investors.

Led by the sharp fall in stocks, the market capitalisation (m-cap) of BSE-listed companies plunged Rs 2,72,549.15 crore to Rs 1,53,64,470 crore since Friday.

Rupee plunges to new closing low of 72.97 against dollar

In the early trade, the domestic currency recovered 10 paise to 72.41 against the US dollar amid volatility on fresh selling of the US currency by exporters and banks. But in late afternoon deals, the rupee gave up the initial gains to hit a new low.

“Selling pressure increased on the bourses due to spike in oil prices,” said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

Flaring up of trade tariff tensions between the US and China and weakness in the rupee have also added to weak investor sentiment.



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