Wednesday, March 22, 2023

Investor wealth slipped by Rs 2.67 lakh crore in early trade – Usky News

MUMBAI: Stock investors’ wealth eroded over Rs 2.67 lakh crore in early trade on Friday amid a selloff in markets amid a weak global trend. The market capitalization of BSE-listed companies, which is also an indicator of investors’ wealth, fell over Rs 2,67,539.54 crore to Rs 2,61,63,222.07 crore due to a largely negative market.
Of the 3,206 scrips that traded, 1,966 scrips declined, 1,109 scrips advanced while 131 scrips remained unchanged. The market valuation on Thursday stood at Rs 2,64,30,761.61 crore.
In just one hour of trading on Friday, major indices Sensex and Nifty were in red, reflecting weak investor sentiments.
The 30-share BSE barometer was trading 718.8 points, or 1.20 per cent, down at 59,087.48 in 1015 hours.
Its 28 constituents were trading in the red. Tata Motors and Maruti bucked the trend and gained 0.73 per cent and 0.16 per cent, respectively.
Analysts said heavy selling in financial, banking, IT and capital goods stocks from weak Asian markets and overnight losses in the US market dragged the benchmark indices lower.
The Nifty closed 1.05 per cent or 184.25 points lower at 17,405.35 as 42 stocks declined. Adani Enterprises was the biggest loser among the Nifty stocks, falling 2.62 per cent.
Foreign institutional investors (FIIs) emerged as net sellers in the capital market on Thursday, selling shares worth Rs 561.78 crore, according to exchange data.


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