Investors' wealth erodes by Rs 10.29 lakh cr in 4 days

Investors' wealth erodes by Rs 10.29 lakh cr in 4 days
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New Delhi, Oct 22: Investors have lost over Rs 10.29 lakh crore in four days of market decline, with risk appetite dented by concerns over frothy valuations amid unabated selling by FIIs.

Falling for the fourth consecutive session on Friday, the 30-share BSE benchmark Sensex settled 101.88 points or 0.17 per cent lower at 60,821.62.

In four days, the benchmark has tumbled 943.97 points or 1.52 per cent.

Following this, the market capitalisation of BSE-listed companies tumbled by Rs 10,29,970.84 crore in four days to stand at Rs 2,64,39,636.09 crore at close of trade on Friday.

"Equity markets opened positive but after initial range-bound move, again succumbed to profit-booking and ended the session in the red for the fourth day in a row," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

ITC was the biggest laggard among the 30 Sensex companies, falling 3.39 per cent, followed by Maruti, Infosys and NTPC.

In contrast, HDFC, Bajaj Auto, Kotak Bank, Axis Bank and IndusInd Bank were among the gainers.

In the broader market, the BSE midcap and smallcap indices declined up to 1.20 per cent.

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