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Investors lose ₹3.7-lakh crore as markets tank
Investor wealth slumped by ₹3.7 lakh crore on Monday, as the equity market recorded its biggest single-day fall in two months.
At the close of trade, the total market capitalisation of BSE listed companies eroded by ₹3,71,883.82 crore to ₹2,00,26,498.14 crore.
The total market capitalisation of BSE listed companies stood at ₹2,03,98,381.96 crore on February 19 .
Markets at close on Monday
Extending its losses for the fifth straight session, equity benchmark Sensex plummeted 1,145 points on Monday, tracking heavy losses in index majors RIL, HDFC and TCS amid negative cues from global markets.
The 30-share BSE index ended 1,145.44 points or 2.25% lower at 49,744.32. The broader NSE Nifty sank 306.05 points or 2.04% to finish at 14,675.70.
Dr Reddy's was the top loser in the Sensex pack, shedding around 5%, followed by M&M, Tech Mahindra, Axis Bank, IndusInd Bank and TCS.
On the other hand, ONGC, HDFC Bank and Kotak Bank were the gainers.
Asian stocks mixed
Asian stocks were steady and U.S. equity futures fluctuated Tuesday as investors assessed expectations for faster growth and inflation that drove up commodities and bond yields.
South Korea's Kospi declined nearly 1%.
Australia's ASX200 added 0.3%.
China's Shanghai Composite and Hong Kong's Hang Seng advanced 0.2% each.
Singapore's SGX Nifty was flat.
Japanese markets are closed for a public holiday on Tuesday.
Wall Street retreats amid inflations fears
The S&P 500 and Nasdaq closed lower on Monday as climbing Treasury yields and prospects of rising inflation triggered valuation concerns, hitting shares of high-flying growth companies.
The Dow Jones Industrial Average rose 29.08 points, or 0.09%, to 31,523.4, the S&P 500 lost 30.2 points, or 0.77%, to 3,876.51 and the Nasdaq Composite dropped 341.42 points, or 2.46%, to 13,533.05.
The S&P 500 declined for five straight sessions, its longest such streak in a year.
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