BUSINESS
Among Sensex shares, HCL tech fell the most by 4.49 per cent followed by Zomato, Tech Mahindra, PowerGrid and Tata Motors.
Stock markets continued to be in red on Monday as key indices slumped to more than seven-month lows due to widespread selling amid increased uncertainty over US trade policy, wiping out Rs 9.28 lakh crore of market wealth. Billionaire Mukesh Ambani's Reliance Industries lost Rs 22,937 crore, reducing its total value to Rs 16,63,602 crore, IANS reported.
Moreover, Tata Group's TCS saw a significant loss of Rs 31,549 crore, bringing its market capitalisation down to Rs 14,70,806 crore. The market capitalisation of BSE-listed companies tanked Rs 9,20,654.51 crore to Rs 4,10,31,199.48 or USD 4.75 trillion. Among Sensex shares, HCL tech fell the most by 4.49 per cent followed by Zomato, Tech Mahindra, PowerGrid and Tata Motors.
The market breadth was negative as 3,588 shares declined, 532 advanced and 114 stocks remain unchanged. The 30-share BSE barometer plunged by 824.29 points or 1.08 per cent to close at 75,366.17, a level not seen since June 2024. During the day, the barometer plummeted 922.87 points or 1.2 per cent to a low of 75,267.59.
Dalal Street continues to bleed, extending its losses from Friday last week, as the wind of slowing corporate earnings swayed away hopes of earnings revival and bolstered pessimism about tepid earnings. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,015.46 crore on Monday, according to exchange data.
Geopolitical tensions and continued selling by foreign institutional investors (FII) further hit the sentiment. Mid and small-cap continue to face the brunt of heightened volatility as richer valuations trigger sell-off across the segment, Ranadive said.
(With inputs from PTI, IANS)
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