Investors’ wealth eroded by Rs 7 lakh crore in two days as stock markets became jittery following the escalation of the India-Pakistan conflict.
India on Thursday night swiftly thwarted Pakistan’s fresh attempts to strike military sites with drones and missiles, including in Jammu and Pathankot, after foiling similar bids at 15 places in northern and western regions of the country as tensions soared between the two countries.
Extending its previous day’s decline, the 30-share BSE benchmark gauge Sensex tanked 880.34 points, or 1.10 per cent, to settle at 79,454.47, in a largely range-bound trading.
The NSE Nifty dropped 265.80 points, or 1.10 per cent, to 24,008.
In two days, the BSE benchmark tumbled 1,292.31 points, or 1.60 per cent.
The market capitalisation of BSE-listed firms eroded Rs 7,09,783.32 crore to Rs 4,16,40,850.46 crore (USD 4.86 trillion) in two days.Extending its previous day’s decline, the 30-share BSE benchmark gauge Sensex tanked 880.34 points, or 1.10 per cent, to settle at 79,454.47, in a largely range-bound trading.
The NSE Nifty dropped 265.80 points, or 1.10 per cent, to 24,008.
In two days, the BSE benchmark tumbled 1,292.31 points, or 1.60 per cent.
The market capitalisation of BSE-listed firms eroded Rs 7,09,783.32 crore to Rs 4,16,40,850.46 crore (USD 4.86 trillion) in two days.
“Domestic factors continued to weigh on Indian markets even as global indices stayed firm, as rising tension due to Indo-Pak conflict prompted investors to flee local equities,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.From the Sensex firms, ICICI Bank, Power Grid, UltraTech Cement, Bajaj Finance, HDFC Bank, Reliance Industries, Bajaj Finserv, Adani Ports, ITC, and Mahindra & Mahindra were among the laggards.
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