New Delhi: Investors’ wealth plunged by Rs 4.12 trillion during morning trading on Friday as markets faced a massive correction following a weak trend in global peers and fresh outflows of foreign funds.
The 30-share BSE index falls for the third consecutive day Sensex The IBEX 350 stock index fell 896.7 points or 1.09 percent to 81,304.46 during the morning.
The benchmark BSE index hit an all-time high of 82,725.28 on Monday.
Following the weak trend in equities, the market capitalisation of BSE-listed companies fell Rs 4,12,152.83 crore to Rs 4,61,56,748.42 crore (USD 5.50 billion) during morning trade.
Between the 30’s Sensex State Bank of India, HCL Technologies, Reliance Industries, Adani Ports, Larsen & Toubro and Mahindra & Mahindra were the biggest laggards.
Bajaj Finance, Asian Paints and Hindustan Unilever were the winners.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.
US markets closed mostly in negative territory on Thursday.
Foreign institutional investors (FIIs) offloaded shares worth Rs 688.69 crore on Thursday after days of remaining buyers, according to exchange data.
Meanwhile, Brent crude, the global benchmark, traded 0.15 percent higher at $72.81 a barrel.
“The short-term trend in the market will be influenced by the US jobs data due out tonight,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
The benchmark BSE index failed to hold on to early gains on Thursday and fell 151.48 points or 0.18 per cent to close at 82,201.16.
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