New Delhi- Investors became poorer by Rs 1.36 lakh crore on Friday as the markets witnessed a sell-off amid weak global trends.
Benchmark stock indices Sensex tanked 671.15 points or 1.12 per cent to close at 59,135.13, as 21 of its scrips declined.
The sharp decline in equities eroded Rs 1,36,037.96 crore from the market capitalisation of BSE-listed firms and that now stands at Rs 2,62,94,723.65 crore.
On Thursday, the market valuation stood at Rs 2,64,30,761.61 crore.
Market breadth was negative as of the total 3,611 scrips traded, 2,099 stocks declined, 1,077 stock advanced while 105 closed unchanged.
The broader Nifty plunged 176.70 points or 1 per cent to close at 17,412.90, with 35 of its stocks ending in the red. The index moved in a range of 17,324.35 to 17,451.50 during the session.
Foreign Institutional Investors (FIIs) emerged as net sellers in the capital market on Thursday as they sold shares worth Rs 561.78 crore, according to exchange data.
Domestic indices extended losses for the second consecutive day in line with sell-off in global markets triggered by a 60 per cent fall in the US-based Silicon Valley Banks.
“All sectors ended in red with major selling seen in banking stocks. Fall in the select US banks added to the overall global uncertainty regarding the quantum of the next Fed rate hike,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, said.
In the broader market, the BSE Midcap declined by 171.10 points or 0.69 per cent to 24,617.91 while the Smallcap fell by 165.29 or 0.59 per cent to 27,952.11.
BSE Financial Services declined by 1.77 per cent, BSE Bankex by 1.85 per cent, Capital Goods by 1.08 per cent, Realty by 1.07 per cent, Industrials by 0.85 per cent and BSE IT by 0.63 per cent.
On the other hand, BSE Telecom rose by 1.21 per cent and BSE power by 1.08 per cent. (PTI)
