Rs 3.31 lakh crore investor wealth gone in 6 sessions
The BSE Sensex has plunged by over 878 points in the last six straight sessions.
In the process, the total market capitalisation of all the BSE-listed companies has slipped by Rs 3.31 lakh crore.
The m-cap of BSE-listed was Rs 158 lakh crore at the end of session of August 28, that slipped to Rs 155 lakh crore as of September 5.
Indian equity benchmark Sensex fell for a sixth consecutive session on Wednesday on sustained profit-booking on falling rupee and rising bond yields. Depressed global cues have also added to the misery.
"Global headwinds coupled with risk arising on account of surging oil prices and weak trend in EM currencies dragged the market. The selling pressure was witnessed across the market in which highly valued consumption and mid-cap stocks were impacted the most. Investors are likely to remain cautious as spike in yield and widening deficit will add to the risk of inflation," said Vinod Nair, Head of Research, Geojit Financial Services.
On Wednesday alone, the BSE m-cap fell by Rs 73,088.56 crore. The market breadth was in the red as 1,784 stocks declined on BSE, compared with 981 advancers.
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Other emerging markets have also been reeling under pressure ever since Turkish lira plunged to its lows, initiating a fall in other emerging market currencies.
The rupee touched fresh record low of 71.965 against the US dollar today. This year, rupee has fallen 12 per cent, only to place itself as the worst performing currency in Asia.