Mumbai/New Delhi, Jan 13 (UNI) Spike in global crude prices, continued foreign fund outflows and falling rupee to USD resulted in India’s benchmark indices taking a severe beating today as the BSE Sensex crashed 1,050 points with investors losing an estimated over Rs 12 lakh crore wealth on a single day.
The BSE Sensex continued its bearish trend for the fourth consecutive session on Monday, slumping 1048.90 points to close at 76,330.01 while the the National Stock Exchange (NSE) fell 345.55 points at 23,085.95.
According to estimates available, investors have lost over Rs 24 lakh crore in market valuation in the last four days of severe drubbing in the equity market.
Continued foreign institutional investor selling crossed Rs 20,000 crore this month, contributing to the negative sentiments, observers in the stock market said adding Indian rupee touched a fresh low against the dollar during the session contributed to negative sentiments in the market.
Rupee sank to record low today and settled 58 paise down at 86.62 against a USD. With today’s steepest plunge, rupee has witnessed a downfall of more than Re 1 in the past two weeks.
Meanwhile, oil prices hit their highest level in over three months amid expanded US sanctions disrupting Russian crude supplies, further adding to global uncertainties.
The stocks that dragged the market further were Realty by 6.59 per cent followed by Utilities by 4.38 per cent and BSE services by 4.35 per cent.
The Mid-cap fell by 4.57 per cent and the Small-cap by 4.14 per cent. In the 30 scrips BSE Sensex, shares of only 4 companies advanced as they ended in green from their previous close while shares of 26 companies declined and closed in red.
The losers were Zomato by 6.52 per cent to Rs 227.15, Powergrid by 4.07 per cent to Rs 287.60, Adani Ports by 3.79 per cent to Rs 1070 and Tata Steel by 3.49 per cent to Rs 122.95 .
The gainers included Axis Bank by 0.78 per cent to Rs 1048.85, TCS by 0.62 per cent to Rs 4291.80, IndusInd Bank by 0.41 per cent to Rs 941.45 and Hind Unilever by 0.03 per cent to Rs 2442.60.
