Early trade saw investors' worth plummet by over Rs 5.47 L crore due to market declines

13 Jun 2022 , 02:41 PM

In early trade on Monday (13-06-2022), equity investors lost nearly Rs 5.47 lakh crore due to an extraordinarily weak trend in the broader market, with the Sensex plummeting over 1,500 points.

In early trade, the 30-share BSE benchmark fell 1,568.46 points to 52,734.98. The Nifty fell 451.9 points to 15,749.90 on the NSE, according to data taken from the market.

In the morning session, the market capitalization of BSE-listed companies fell from Rs 5,47,410.81 crore to Rs 2,46,36,948.05 crore, reflecting the weakening trend in equities.

“The Nifty began wide down as equities markets around the world sold down after US May inflation data raced to four-decade highs, raising fears of aggressive rate rises by the US Fed at its next monetary policy meeting on Wednesday.”

“On the local front, India’s inflation data is coming on Monday, which will likely cause market jitters,” said Hemang Jani, Head Equity Strategy, Motilal Oswal Financial Services.

Among the Sensex pack’s top laggards were Bajaj Finserv, Bajaj Finance, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, and HDFC.

Markets in Seoul, Tokyo, Hong Kong, and Shanghai were trading with heavy cuts elsewhere in Asia.

On Friday (10-06-2022), stock markets in the United States finished substantially down. According to exchange statistics, foreign institutional investors (FIIs) remained net sellers in the capital market on Friday, selling shares worth Rs 3,973.95 crore.