Investors lose Rs 1.24 lakh crore as Sensex sinks by 371 points
Total investor wealth declined by over Rs 1.24 lakh crore today as the benchmark BSE Sensex plummeted by over 371 points due to profit booking in recent out-performers ahead of derivatives settlement on Thursday.
Tracking the weakness, the market capitalisation of BSE-listed companies slumped by Rs 1,24,967 crore to Rs 93,04,375 crore at close today.
The index plunged by 371.16 points or 1.46 per cent to end at 24,966.40, registering its biggest fall in five weeks.
The gauge fell below the psychological 25,000-level to touch a low of 24,895.49 due to widespread profit-booking.
“Markets started the week on a weak note. The weakness persisted during the day, ahead of the expiry on Thursday and followed a strong performance of the markets over the past four weeks,” said Dipen Shah, Senior Vice-President & Head of Private Client Group Research, Kotak Securities.
Stock exchanges were closed on Thursday and Friday for ‘Holi’ and ‘Good Friday’, respectively.
The index had risen 660.19 points in the past four sessions.
Of the 30-share Sensex pack, 27 lost while NTPC, GAIL and Bajaj Auto finished higher.
Sectorwise, the BSE realty index fell 4.35 per cent, followed by metal 3.92 per cent and consumer durables 3.48 per cent.
At the BSE, 1,998 stocks declined, while 699 advanced.
152 stocks remained unchanged.