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The market capitalization of BSE-listed companies, which is also an indicator of investor wealth, plummeted from Rs 2,6753.954 billion to Rs 2,6163.2207 billion as the market turned sharply negative.
Equity investors’ assets were eroded by more than Rs 2.67 crore in early trading on Friday as the market witnessed a selloff amid global trend weakness.
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The market capitalization of BSE-listed companies, which is also an indicator of investor wealth, plummeted from Rs 2,6753.954 billion to Rs 2,6163.2207 billion as the market turned sharply negative.
Of the 3,206 shares that traded, 1,966 fell, 1,109 rose, and 131 remained unchanged. Market valuation on Thursday was Rs 2,64,30,761.61 crore.
After just one hour of trading on Friday, key indicators Sensex and Nifty were in the red, reflecting weak investor sentiment.
The 30-share BSE Barometer was trading 718.8 points or 1.20% lower at 59,087.48 in 1015 hours.
Twenty-eight of the constituent stocks traded in the red. Tata Motors and Maruti bucked the trend, rising 0.73% and 0.16% respectively.
A sharp sell-off in financial, banking, IT and industrial stocks triggered by weakness in Asian markets and overnight declines in US markets pushed benchmark indexes lower, analysts said.
Nifty fell 1.05% or 184.25 points to 17,405.35, down 42 shares. Adani Enterprises fell 2.62% among Nifty stocks.
Foreign Institutional Investors (FII) were net sellers on Thursday as they sold shares worth Rs 561.78 crore in the capital markets, currency data showed.
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