Investors’ Wealth Falls Rs 2.67 lakh crore in Early Trade

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On Friday, stock investors’ wealth fell over Rs 2.67 lakh crore in early trade as the markets suffered a sell-off amid weak global signals. The BSE-listed companies’ market cap, an indicator of investors’ wealth, fell more than Rs 2,67,539.54 crore to Rs 2,61,63,222.07 crore because of the largely negative market.

Out of the 3,206 stocks traded, 1,966 stocks weakened, 1,109 advanced, and 131 remained unchanged. On Thursday, the market valuation mounted at Rs 2,64,30,761.61 crore.

Sensex and Nifty’s key directories on Friday’s trading hour were traded in the red, showing weak investor attitudes. The 30-share BSE barometer traded 718.8 points or 1.20% lower at 59,087.48 at 10:15 am.

As many as 28 of its constituents were trading in the red. Tata Motors and Maruti jumped the trend and expanded by 0.73% and 0.16%, respectively.

Analysts said weakness in Asian markets and overnight losses in US markets led to heavy selling in financial, banking, IT and capital goods stocks, weighing on the benchmark index.

Nifty tanked 1.05% or 184.25 points to 17,405.35 as 42 of its shares plunged. Adani Enterprises fell the most by 2.62% among Nifty stocks. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 561.78 crore as net sellers in the capital market on Thursday.

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