Equity investors have become poorer by more than Rs 18.74 lakh crore as the market continued to remain bearish for the fifth session on the trot on Thursday. The 30-share BSE Sensex tumbled 1,158.08 points or 2.14 per cent to end below the 53,000-level at 52,930.31 points on Thursday.
Markets have been falling for five straight sessions and the BSE benchmark has tumbled 2,771.92 points or 4.97 per cent during this period. A weak trend in equities have eroded Rs 18,74,689.98 crore from the market capitalization of BSE-listed firms in five days. The market capitalization of BSE-listed firms is now at Rs 2,40,90,199.39 crore.
Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities, said, “Markets continued to remain under pressure in sync with global markets slump, as worries of more interest rate hikes coupled with sluggish economic growth going ahead weighed on sentiment. The ongoing conflict and lockdowns in China due to virus spread is promoting investors to shun equities”.
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