Investors lose Rs 7.52 lakh cr as bears grip stock markets

New Delhi, Jan 21 (PTI) Investors' wealth on Tuesday eroded by Rs 7.52 lakh crore as markets took a heavy beating, with the BSE Sensex tumbling over 1,235 points.

The market capitalisation of BSE-listed companies declined by Rs 7,52,520.34 crore to Rs 4,24,07,205.81 crore or USD 4.90 trillion. The market breadth was negative as out of 4,088 shares traded on BSE, 2,881 stocks declined, 1,106 advanced and 101 stocks closed unchanged.

The 30-share BSE Sensex plummeted 1,235.08 points or 1.60 per cent to settle at 75,838.36. The benchmark plummeted 1,431.57 points or 1.85 per cent to hit an intraday low of 75,641.87. During the day, it hit a high of 77,337.36 on the bourse.

"Despite starting strong, the domestic markets ended the day negatively. Nervousness driven by Trump’s uncertain tariff plan, a selloff triggered by foreign institutions, and disappointing Q3 earnings weighed on the market," Ameya Ranadive Chartered Market Technician, CFTe, Sr Technical Analyst, StoxBox, said.

Among Sensex shares, Zomato fell the most by 10.92 per cent due to weak Q3 earnings. NTPC, Adani Ports, ICICI Bank, State Bank of India, Reliance Industries, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and Axis Bank were among the major laggards.

UltraTech Cement and HCL Technologies were the only gainers.

In the broader market, The BSE midcap gauge declined 2 per cent and smallcap index slumped 1.94 per cent.

Among BSE sectoral indices, Realty nosedived the most by 4.22 per cent, followed by Consumer Durables (3.99 per cent), Consumer Discretionary by (2.90 per cent), Services (2.86 per cent), Power (2.63 per cent), Telecommunication (2.52 per cent) and Utilities (2.35 per cent) were among the laggards.

"All of the 13 sectors remained red during the day, with realty and consumer durables under higher pressure, led by a considerable decline of key constituents (Oberoi Realty and Dixon Tech) of the sectoral indices..

"On a stock-specific note, Zomato declined by 10 per cent on account of tepid earnings, with a significant focus on weaker profitability," Ranadive said.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,920.28 crore on Tuesday, according to exchange data. PTI HG HG MR

Source: PTI