New Delhi: Domestic investor wealth plummeted by nearly Rs 5 lakh crore on Friday as equity markets crashed tracking global equity selloff amid rising uncertainty over the economic impact of coronavirus outbreak.
Market capitalisation (m-cap) of BSE-listed companies saw a massive decline after the 30-share index sank 1,100.27 points, or 2.77 per cent, to 38,645.39, and the NSE Nifty cracked 329.50 points, or 2.83 per cent, to 11,303.80.
The carnage in the equity market wiped out investor wealth worth Rs 4,65,915.58 crore, taking the total m-cap to Rs 1,47,74,108.50 crore on the BSE.
The m-cap of BSE-listed companies stood at Rs 1,52,40,024.08 crore at the end of trading on Thursday.
All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.
Read more:Sensex crashes over 1,100 pts on global rout
Traders said investor sentiments also remained fragile amid incessant foreign fund outflows. On a net basis, foreign institutional investors sold equities worth Rs 3,127.36 crore on Thursday, data available with stock exchanges showed.
Foreign investors have sold equities worth Rs 9,389 crore till Thursday, provisional data on the stock exchanges showed.
On the BSE, 1,602 scrips declined, while 183 advanced and 62 remained unchanged.
In the broader market, the BSE SmallCap index fell 3.45 per cent, while BSE MidCap index declined 3.53 per cent.
Anand Mahindra, Chairman of Mahindra Group also reacted to this by tweeting "Time to coin a new phrase. When markets panic over a pandemic is it a ‘panicdemic?’"
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Time to coin a new phrase. When markets panic over a pandemic is it a ‘panicdemic?’
— anand mahindra (@anandmahindra) February 28, 2020 " class="align-text-top noRightClick twitterSection" data="
">Time to coin a new phrase. When markets panic over a pandemic is it a ‘panicdemic?’
— anand mahindra (@anandmahindra) February 28, 2020Time to coin a new phrase. When markets panic over a pandemic is it a ‘panicdemic?’
— anand mahindra (@anandmahindra) February 28, 2020
Market selloff: 1,767 stocks turn red, 274 defy trend on BSE
More than 1,700 BSE-listed stocks, mostly from the mid-cap and small-cap space, witnessed heavy selloff as equity markets crashed amid rising fears of the coronavirus outbreak turning into a pandemic.
As many as 323 shares on the Bombay Stock Exchange from Group A, B, T and Group Z, dropped to their 52-week low levels. While, a total of 205 companies on BSE saw their share prices touching their lowest permissible level for the day.
However, as many as 274 stocks defied the broader market trend and were trading in the positive territory, while 57 stocks breached the upper circuit limit.
Sectoral indices plunge over 6% amid equity rout
All BSE sectoral indices witnessed losses amid intense equity selloff on domestic bourses as investors across the globe turned increasingly fearful of the adverse impact of coronavirus on world markets.
BSE metal index was the top laggard, cracking up to 6.04 per cent, followed by IT, basic materials, teck, industrials, realty, capital goods, energy, auto and finance indices falling up to 3.96 per cent.
Oil and gas, bankex, telecom, consumer durables and FMCG indices were also trading with losses.
(PTI Report)
