Investors shed Rs 2.5 trillion as equity indices plunge sharply
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Equity investors have shedded around Rs 2.5 trillion on Monday as the benchmark indices took a deep dive.
All India market capitalisation of BSE-listed companies are currently at 2,69,58,392 crore, against 27,212,168 crore on April 13. Equity markets were closed on Thursday and Friday on account of Dr. Baba Saheb Ambedkar Jayanti/Mahavir Jayanti and Good Friday, respectively.
Continuing its downtrend from the morning session, benchmark Sensex and Nifty indices plunged around 2 per cent each at the writing of this report.
A rise in inflation as well as a fresh spike in global crude oil prices seemed to have dented investors' sentiment.
Consumer Price Index or retail inflation rose steeply in March to 6.95 per cent, which was above Reserve Bank of India's upper tolerance band of 6 per cent for three consecutive months.
Also, earnings of HDFC Bank and Infosys for Q4 coming short of market expectations hurted investor confidence, said analysts.
Shares of these major Indian companies declined 5 per cent and 7 per cent, respectively, on Monday, exchange data showed.
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