In stock market India, investors has turned out to be poorer by Rs 5, 66,187 crores in only four sessions of market fall, which saw the BSE benchmark record crashing 1,249 points or 3.28 percent. On September 21, 2018, m-top of all BSE-recorded organizations fell by Rs 2, 02,433.26 crores.
The 30-share index broke 1,127.58 points or 3 percent, to hit an intra-day low of 35,993.64 on September 21, 2018. It anyway recouped a large portion of the losses close to the fall.
The Nifty50 dove 368 points intraday and closed at 11,143.10 with lost 91.25 points, or 0.81 percent. In four days, the record has lost 1,249.04 points. Following the weak assumption, the market capitalization of BSE-recorded organizations drooped Rs 5, 66,187.15 crores to Rs 1, 50, 70,832 crores on September 21, 2018.
Remarking on September 21, 2018 session of stock market India, Vinod Nair, Head of Research at Geojit Financial Services stated: “Market cautiously viewed YES Bank’s sharp correction and RBI’s open market operation. Later, the tension escalated under the fear of liquidity crunch and tighter norms by the RBI. Cascading impact was seen in high beta and valued stocks and sectors, in expectation of tightened liquidity.”
Shares of housing finance companies fell pointedly on September 21, 2018, with Dewan Housing Finance tumbling 42.43 percent. It was the fourth back to back succumb to Sensex and Nifty. Sensex has lost 1,249 points or 3.28 percent as Nifty fell 372 points or 3.23 percent in the last four sessions.
Jimeet Modi, Founder, and CEO of Samco Securities and StockNote said in a report to Hindustan Times, “Housing finance companies nosedived on the basis of rumors of liquidity crunch which caused the stocks to fall up to 50 percent. However, the stocks are fundamentally sound, but herd mentality had caused the sudden panic in these stocks, however, they have recovered from their day’s low.”
In stock market India because of a sharp fall in financial, bank, pharma, and realty stocks, the market capitalization (m-cap) of BSE-recorded organizations dove from Rs 1,56,37,019.15 crore to Rs 1,50,70,832.18 crore since September 21, 2018, as per the report of Economic Times.
The post Capitalisation Of BSE-Listed Companies Slumps Rs 5.6 Lakh Crore In Stock Market India appeared first on OWLT Market.
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