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Monday, September 26, 2022

As markets drop, investors’ wealth has plummeted by more over Rs 3.39 lakh crore

As equities markets plunged into a spiral on Monday, investors’ wealth plummeted by more than 3.39 lakh crore in the first hour of trading, with the Sensex plummeting 1,291.93 points.

After a shaky start, the benchmark index of the BSE fell 1,291.93 points to 57,047 points in early morning trading.

Following the downward trend in stocks, the market capitalization of BSE-listed companies fell by 3,39,088.04 crore to 2,68,63,975.53 crore, reflecting the weakening trend in equities.

“The market is facing increasing headwinds in the short future. Global attitude is negative, with the dollar index rising over 100, the 10-year Treasury rate rising above 2.8 percent, and the global economy anticipated to worsen if the Ukraine conflict continues.

Despite the fact that growth prospects seem to be bright, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that Infosys’ earnings came in worse than anticipated, with increased attrition and decreasing margins despite the fact that growth prospects look to be bright.

Infosys, Tech Mahindra, HDFC, and HDFC Bank were the main laggards in the 30-share group, according to the results.

David Faber
I am a Business Journalist of The National Era
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