Over the last four trading sessions, investors have lost over Rs 10.36 lakh crore as domestic equity benchmarks extended their losses amid weak global trends.
The Sensex and Nifty closed in the red for the fourth consecutive session on Friday, as foreign institutional investors continued to sell. The BSE Sensex fell 427.44 points, or 0.72 percent, to 59,037.18. In four sessions, the 30-share benchmark has lost 2,271.73 points. In line with the deteriorating trend, the market capitalization of BSE-listed companies fell by a massive Rs 10,36,636.17 crore in the last four trading sessions to Rs 2,69,65,801.54 crore. On Monday, the market capitalization of BSE-listed companies reached a lifetime high of Rs 2,80,02,437.71 crore. Except for FMCG, all BSE sectoral indices closed in the red on Friday, led by telecom, consumer durables, real estate, capital goods, and industrials, which lost up to 3.03 percent. "Indian equity markets corrected this week in line with the global market sell-off. The rise in US bond yields and the expected tightening of monetary policy by Central Banks is weighing on investor sentiments," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd. "Inflationary pressure, monetary policy tightening, rising bond yields, higher crude oil prices are some key challenges for the global markets. In addition to global factors, the domestic markets would track the Q3FY22 results, management commentary, and the Union Budget," Chouhan added.