Investors’ wealth on Monday got eroded by Rs 3.39 lakh crore after the Sensex plummeted 793 points amid the Union Budget overhang and heavy sell-off in global equities.
Intra-day, the 30-share BSE benchmark index fell sharply by 907.91 points to 38,605.48.
It closed at 38,720.57, down 792.82 points, or 2.01 per cent.Led by the sharp sell-off in equities, the market capitalisation of the BSE-listed companies dropped by Rs 3,39,192.97 crore to Rs 1,47,96,302.89 crore.
In the previous two sessions, the market capitalisation of BSE-listed firms plummeted Rs 5,61,772.64 crore. The index had dropped 394.67 points on Friday.
From the 30-share pack, 27 companies faced selling pressure led by Bajaj Finance, ONGC, Hero MotoCorp and Maruti Suzuki India.On the BSE, 1,953 scrips declined and 571 advanced, while 145 remained unchanged.
List of factors viz. disappointment from the Union Budget, weak progress of monsoon and feeble global cues dampened the sentiment and triggered sell-off across the board.
In her maiden Budget Speech, Finance Minister Nirmala Sitharaman said it was the right time to consider an increase in minimum public shareholding from 25 per cent to 35 per cent.
As many as 1,174 listed firms, including giants like TCS, Wipro and DMart, will have to offload promoter stakes worth about Rs 3.87 lakh crore, a Centrum Broking report said.
The market fall today was on account of concerns over future fund flow into the secondary market and scam revelation at PNB (Punjab National Bank).
All the BSE sectoral indices ended in the red, with capital goods, realty, automobile, power, industrials, finance, banking indices falling up to 3.78 per cent.In the broader market, the BSE mid-cap and small-cap indices fell by up to 2.46 per cent.
