On September 17, 2018, the market pandemonium in Indian stock market wiped out Rs 1.96 lakh crore from investor wealth on Dalal Street, as the market capitalization of all the BSE-recorded firm’s dove to Rs 155.44 lakh crore amid the session from Rs 157.40 lakh crore.
Market benchmark BSE Sensex on September 17, 2018, tumbled by around 295 points or 0.78 percent to close at 37,290.67 because of expanding unrefined petroleum costs and mounting trade tension.
Subdued global cues combined with enlarging of exchange deficiency on consistent fall in the rupee against the dollar weighed on market sentiment. Offering weight stayed unmistakable in all cases as all the sectoral lists ended in the red. Index-wise, the 30-share BSE Sensex plunged 467.65 points or 1.22 percent to 37,922.17, while the 50-share NSE Nifty shut 151 points or 1.30 percent down at 11,438.10.
Since September 14, 2018, driven by the sharp fall in Indian stock market, the market capitalization (m-cap) of BSE-recorded organizations plunged Rs 2.72 trillion to Rs 1.53 trillion.
Exchange war concerns hauled Indian rupee to a record low of 72.67 against the US money in day exchange. The local currency pared a few losses to settle at 72.45 against the dollar, down 71 paise against the US money.
At the BSE, 1,805 stocks declined, while 881 progressed and 162 stayed unaltered, as per the report of Business Standard.
Upwards of 140 stocks hit their respective 52-week low levels.
Atul Kumar, Head, Equity Funds and Quantum AMC, said in Indian stock market report to Economic Times, “With Lok Sabha elections due next year, the stock market could be spooked by political uncertainty. Rising crude prices, rupee depreciation are macroeconomic concerns in the near term. Over the long term, we remain optimistic on Indian equities. India is likely to grow faster than many nations. Investors can expect decent returns from equities over a long period in the future. Valuations, however, leave moderate upside in the near term. Investors at this point should continue to invest in equities through SIPs.”
The post Stock Investors Become Poorer As Rs 2 Trillion Falls In Indian Stock Market appeared first on OWLT Market.
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