Stock market decline wipes out Rs 11.21 lakh cr from investors' wealth in 3 days

New Delhi, Aug 29 (PTI) Market investors became poorer by Rs 11.21 lakh crore in three days of selling pressure, where the benchmark Sensex tumbled 1,826 points.

In the past three trading days, the BSE benchmark has plummeted 1,826.26 points or 2.23 per cent.

On Friday, the 30-share BSE Sensex dropped 270.92 points or 0.34 per cent to settle at 79,809.65. During the day, it declined 338.81 points or 0.42 per cent to 79,741.76.

The market capitalisation of BSE-listed firms eroded by Rs 11,21,459.36 crore to Rs 4,43,65,504.09 crore (USD 5.05 trillion) in three days.

"The Sensex ended Friday's trade on a subdued note, slipping 270.92 points to close at 79,809.65 as persistent concerns over US tariffs on Indian exports weighed on investor sentiment and kept foreign inflows under pressure," Vikram Kasat, Head - Advisory at PL Capital, said.

From the Sensex firms, Mahindra & Mahindra fell by 2.96 per cent, followed by Reliance Industries, which lost 2.21 per cent. Infosys, NTPC, Tata Motors and Tech Mahindra were also among the laggards.

However, ITC, Bharat Electronics, Trent, and Larsen & Toubro were among the major gainers.

"Benchmark indices extended their losing streak for the third consecutive session as investor sentiment remained risk-averse amid ongoing concerns around the broader implications of recently imposed US tariffs," according to Bajaj Broking Research.

The BSE midcap gauge declined 0.41 per cent and the smallcap index dipped 0.29 per cent.

Among BSE sectoral indices, realty declined 1.33 per cent, energy (1.01 per cent), BSE Focused IT (0.95 per cent), IT (0.94 per cent), auto (0.84 per cent), oil & gas (0.77 per cent) and services (0.63 per cent).

BSE FMCG, industrials, capital goods, consumer durables and power were the gainers.

As many as 2,187 stocks declined while 1,890 advanced and 160 remained unchanged on the BSE. PTI SUM SUM SHW