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

Asia's Tech News Daily

#Business, #Investors' wealth, #Market news

Representative image

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.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Taking Stock | Market snaps 2-day winning streak; Sensex falls 765 points, Nifty below 17,200

Benchmark indices broke their two-day winning streak, with the Sensex closing below the 58,000 mark and Nifty below 17,200. After a flat to positive start, the market gave up the ... Read more »

Why Rakesh Jhunjhunwala-backed Star Health's IPO failed to enthuse investors

Star Health IPO | Promoter Rakesh Jhunjhunwala is the second largest shareholder in the company. It had all the makings of a star initial public offering – the backing of ... Read more »

RBI new norms likely to increase NBFCs bad loans by one-third: Study

Representational image The recent clarification by the Reserve Bank of India on non-performing advances (NPA) may increase non-banking financial companies’ (NBFC) bad loans by one-third, says a report. Last month, ... Read more »

Unacademy announces programme to educate 5 lakh girl students in India

Image: Shutterstock Online education startup Unacademy on Friday announced a new programme – Shikshodaya – that aims to educate five lakh girl students in the country. Unacademy, which is backed ... Read more »

Jet Airways in 'advanced discussions' with Boeing, Airbus for buying aircraft

Jet Airways, which is preparing to relaunch operations next year, on Friday said it is in “advanced discussions” with Boeing and Airbus for buying and leasing planes. The grounded airline ... Read more »

KEC International shares jump on new orders worth Rs 1,065 crore

Representative image Infrastructure engineering, procurement and construction (EPC) major KEC International on Friday said it has bagged new orders worth Rs 1,065 crore across various businesses. Its Transmission & Distribution ... Read more »

Hero MotoCorp expands operations in Argentina

Representative image Two-wheeler market leader Hero MotoCorp on Friday announced the expansion of operations in Argentina with the opening of its flagship dealership in Buenos Aires in partnership with Gilera ... Read more »

KOSPI moving in tandem with US futures amid heightening Omicron uncertainty

Dealers at Hana Bank work at a dealing room at the lender’s headquarters in Seoul, Friday. Yonhap By Lee Min-hyung Korea’s benchmark KOSPI had been moving in sync with Wall ... Read more »

Confident that India, Australia will meet deadlines of finalising trade pact: Tony Abbott

Australian Prime Minister’s Special Trade Envoy Tony Abbott on Friday expressed confidence that India and Australia would meet the deadline of finalising the proposed trade pact, which aimed at enhancing ... Read more »

Australian sharemarket volatility continues, pharmacy owner and Pro Medicus top best in ASX200

Volatility continued to prevail on the Australian sharemarket, with banks and the resources sector the mainstays during a choppy session. The benchmark S&P/ASX200 index closed just 16 points or 0.22 ... Read more »

KEC International bags orders worth Rs 1,065 crore

Representative image Infrastructure engineering, procurement and construction (EPC) major KEC International on Friday said it has bagged new orders worth Rs 1,065 crore across various businesses. Its Transmission & Distribution ... Read more »

Here's why an obscure waste-management firm in Chennai has attracted $4.1 billion 

Until a few days ago, nobody had heard of Ram Charan. So, the humongous investment into this obscure company, which has a capital base of just Rs 20 crore, is ... Read more »

PM Narendra Modi: Time for fintech revolution with low-cost, reliable payment system

Inaugurating the InFinity Forum, PM Narendra Modi said that technology is bringing a big shift in finance, and mobile payment last year exceeded ATM withdrawals. Prime Minister Narendra Modi, on ... Read more »

AirAsia India introduces in-flight safety manual for visually impaired guests

On International Day of Persons with Disabilities, AirAsia India on Friday introduced an in-flight safety manual in braille in collaboration with the Helen Keller Institute for the Deaf and Deafblind ... Read more »

Tega Industries IPO: Issue subscribed 16.22 times on final day, QIB portion booked 4 times

Tega Industries IPO The initial public offering (IPO) of Tega Industries continues to elicit a good response, with the issue subscribed 16.22 times by the morning of December 3, the final day ... Read more »

L&T shares rise on green hydrogen bond with ReNew Power

Larsen & Toubro Larsen & Toubro (L&T) share gained over 2 percent in the morning session on Friday after the company announced partnership for green hydrogen projects in India. The engineering conglomerate ... Read more »

Anand Rathi IPO oversubscribed by 1.81 times, retail portion booked 2.82 times on Day 2

Anand Rathi IPO The public offer of Anand Rathi Wealth, one of the leading non-bank wealth solutions firms in India, has garnered bids for 1.53 crore equity shares as against ... Read more »

Indian Energy Exchange locked in 10% upper circuit as shares trade ex-bonus

Indian Energy Exchange (IEX) stock price was locked in 10 percent upper circuit in the morning trade on December 3 as shares traded ex-bonus with the record date set for December 6. ... Read more »

Buzzing Stocks | ABB, Jubilant Ingrevia, Unichem Labs and others in news today

ABB India: The compamny has completed sale of Dodge Business for Rs 44.58 crore. Unichem Laboratories: The company received ANDA approval for its Aripiprazole Tablets USP from USFDA. Jubilant Ingrevia: ... Read more »

Star Health IPO subscribed 79% on final day of bidding with QIB portion fully booked

Star Health IPO | Promoter Rakesh Jhunjhunwala is the second largest shareholder in the company. Marquee investor Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company closed the public issue on December ... Read more »

MYRE Capital helps investors to acquire Rs 31 crore office space in Mumbai; its AUM crosses Rs 100 crore

Representative image MYRE Capital, which facilitates investors to have fractional ownership of commercial properties, has raised Rs 31 crore from high net-worth individuals for the purchase of nearly 18,000 square ... Read more »

Canara Bank raises Rs 1,500 crore via Basel-III compliant bond

State-owned Canara Bank on Thursday said it has raised Rs 1,500 crore by issuing Basel-III compliant bonds. “Our bank came out with issuance of Rs 1,500 crore of additional tier ... Read more »

Investors richer by over Rs 5.35 lakh crore in two days of market rally

Representative image Equity investors became richer by over Rs 5.35 lakh crore in two days of market rally despite largely negative global cues amid concerns over the Omicron strain of ... Read more »

Mercedes-Benz India to hike prices of select models by up to 2% from January 2022

German luxury carmaker Mercedes-Benz India on Thursday said it will hike prices of select models by up to two per cent from January 1, 2022, to offset feature enhancement and ... Read more »

Tata Steel opens door for transgender persons in core mining operations

File image Breaking the glass ceiling, Tata Steel on Thursday onboarded 14 transgenders as Heavy Earth Moving Machinery (HEMM) operators at its West Bokaro division in Jharkhand’s Ramgarh district. The ... Read more »

Shriram City Union Finance disburses highest ever loan worth Rs 1,022 crore in November

Representative image Shriram group’s two-wheeler financing arm Shriram City Union Finance disbursed the highest ever loans worth Rs 1,022 crore in November, the company said on Thursday. Shriram City Union ... Read more »

Coal stocks improve at power plants in November, says Power Minister

Coal stocks at over 136 power plants in the country improved to 18.95 million tonne (MT) in November this year as compared to the previous two months, Parliament was informed ... Read more »

Gainers & Losers: 10 stocks that moved the most on December 2

Indian benchmark indices ended higher for the second consecutive session on December 2 despite weak global cues. At close, the Sensex was up 776.50 points, or 1.35% ,at 58,461.29, and ... Read more »

Tata Power, ama Stays & Trails tie up to set up EV charging stations

Representative image Tata Power has collaborated with ama Stays & Trails, India’s first branded homestay portfolio by Indian Hotels Company Ltd, to set up EV charging stations at over 30 ... Read more »

World food prices climb in November, stay at 10-year peak: FAO

Source: Reuters World food prices rose for a fourth straight month in November to remain at 10-year highs, led by strong demand for wheat and dairy products, the UN food ... Read more »

L&T, ReNew announce partnership for green hydrogen projects in India

File image Engineering conglomerate Larsen & Toubro on December 2 announced that it will jointly own and operate green hydrogen projects with Goldman Sachs-backed green energy producer ReNew Power. “Under ... Read more »

SBI joins hand with Adani Capital for co-lending to farmers

Country’s largest lender SBI has joined hands with Adani Capital as a co-lending partner to provide loans to farmers in the country. State Bank of India (SBI) has signed a ... Read more »

Australian sharemarket grinds higher after early dive, Woolworths' Priceline bid tops takeover action

The Australian sharemarket took a dive at open on the back of a negative lead from Wall Street, then clawed back losses to close marginally lower in an action-packed day ... Read more »

Hanjin chairman honored for bold leadership amid pandemic crisis

Hanjin Group Chairman Cho Won-tae / Yonhap By Lee Min-hyung Hanjin Group Chairman Cho Won-tae has been selected as the 2021 Person of the Year by Orient Aviation, a commercial ... Read more »

PEFs face difficulties in acquiring or selling manufacturers

gettyimagesbank By Park Jae-hyuk Private equity funds (PEFs) are facing difficulties in buying and selling manufacturers in the Korean market, as politicians are calling for measures to restrict them from ... Read more »

Indian companies raise $1.34 billion from foreign markets in October; down 34% from last year, says RBI

Indian companies raised nearly $1.34 billion from foreign markets in October this year, down 34 percent from the year-ago period, Reserve Bank of India (RBI) data showed on December 1. ... Read more »

MC Interview | Amarjeet Maurya of Angel One recommends investors to subscribe Star Health IPO for longer terms

Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company, the largest private health insurer and the largest retail health insurer in India, has floated a Rs 7,249-crore public issue at a ... Read more »

Asian shares up but Omicron worries linger

Asian shares have edged higher in choppy trading, helped by advances in Chinese real estate shares, though fears about the Omicron variant of the new coronavirus capped gains regionally. Also ... Read more »

Anand Rathi Wealth IPO — should you subscribe to it?

Tega Industries IPO Anand Rathi Wealth’s maiden public issue will open for bidding on December 2 and will close on December 6. The wealth management arm of Anand Rathi Financial ... Read more »

Dolly Parton talks being a ‘boss' and working with ‘vampires': ‘I kick ass'

Dolly Parton is speaking out abut her business acumen in a new interview with People magazine. The country music icon claims she’s not a “pushover” when it comes to the ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic