Black Monday on Dalal Street

Mumbai, September 21

The Sensex dived 812 factors whereas the Nifty closed under the 11,300-mark on Monday, in tandem with a worldwide selloff after a resurgence of coronavirus circumstances in Europe stoked fears of one other spherical of lockdowns.

Rs4.23 L crore wiped off

  • The market cap of all Bombay Stock Exchange-listed corporations declined to Rs1,54,76,979.16 crore, wiping off Rs4.23 lakh crore of investor wealth
  • All sectoral indices ended within the crimson, with BSE telecom, realty, metallic, auto, healthcare and fundamental supplies cracking as much as 5.77%
  • IndusInd Bank was the highest loser within the Sensex pack, tanking 8.67%, adopted by Bharti Airtel, Tata Steel, ICICI Bank, M&M, Maruti, Axis Bank and Bajaj Finance

Denmark, Greece and Spain have imposed contemporary restrictions on actions to deal with a surge in Covid infections. Britain too is contemplating a second nationwide lockdown, prompting traders in Europe to dump journey, consumption and banking shares. Falling for the third straight session, the 30-share BSE Sensex index ended 811.68 factors decrease at 38,034.14.

Similarly, the NSE Nifty tumbled 254.40 factors to complete at 11,250.55.

Only three index parts ended within the inexperienced — Kotak Bank, Infosys and TCS, rising as much as 0.86%.

The market capitalisation of all BSE-listed firms fell to Rs 1,54,76,979.16 crore, wiping off Rs 4.23 lakh crore of investor wealth.

“Indian benchmark indices succumbed to revenue reserving within the second half of the buying and selling day and ended greater than 2% down. It was in sync with world cues which turned detrimental following a surge in infections in numerous international locations together with in Europe.

“Additional restrictions were being considered in Europe following an increase in infections. With high valuations and worries that earnings may not justify such valuations anytime soon, markets may trade uncertain for the time being. Stay cautious,” stated Vinod Nair, Head of Research at Geojit Financial Services. — PTI

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