Investors shed Rs 5 lakh cr as market sees bloodbath

Market cap of all BSE-listed firms fell by Rs 5.25 lakh crore to Rs 241.10 lakh crore against Rs 246.31 lakh crore in the previous session. The Indian indices extended their fall for the fifth straight session on Thursday.
Investors shed Rs 5 lakh cr as market sees bloodbath
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NEW DELHI: Equity investors lost over Rs 5 lakh crore on Thursday as indices took a deep plunge due to the persisting high inflation in the US, below expected corporate earnings, amid fears of high inflation in India for the fourth straight month in April.

Market cap of all BSE-listed firms fell by Rs 5.25 lakh crore to Rs 241.10 lakh crore against Rs 246.31 lakh crore in the previous session. The Indian indices extended their fall for the fifth straight session on Thursday.

Sensex closed at 52,930, down 1,158 points or 2.1 per cent, whereas Nifty, at 15,808 points, was down 359 points or 2.2 per cent. Adani Ports was the top loser as the stock price slipped 5.8 per cent to Rs 715.

“Elevated crude prices, global uncertainty amid the war in Ukraine, mounting inflation, and prospects of an aggressive monetary tightening path by the US Fed have been the major headwinds for the domestic currency,” said Sugandha Sachdeva, VP - Commodity and Currency Research, Religare Broking. For fresh cues, investors were awaiting the April consumer price-based inflation figure for India.

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