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Investors Lose Rs 10.2 Lakh Crore in 3 Trading Sessions as Market Fails to Recover


India’s equity benchmarks failed to sustain the rally on Tuesday and closed at a new 11-month low, with Nifty below 15,750.

At the close, the S&P BSE Sensex was down 153.13 points or 0.29% at 52,693.57. The wider Nifty closed 42.30 points lower or 0.27% lower at 15,732.10.

About 1,506 stocks were up, 1,730 stocks were down and 132 stocks were unchanged.

Among Nifty’s major losers were Bajaj Auto, IndusInd Bank, Hindalco Industries, ONGC and Tech Mahindra. On the other hand, NTPC, M&M, Bharti Airtel, Apollo Hospitals and Divis Labs were among the top winners from Nifty.

Investors lost Rs 10.2 lakh crore in wealth in three trading sessions, as the mcap of BSE-listed companies fell to Rs 244.8 lakh crore, according to provisional trading data.

Among the sector indexes, autos, metals and oil & gas ended in the red, while the capital goods, electricity and real estate indexes ended on the upside. The BSE midcap and smallcap indices ended slightly lower.

Shares of Dr. Reddy’s Laboratories (DRL) rose on Tuesday after the pharmaceutical major announced the launch of a generic version of Nexavar tablets in the United States. The drug – also known as Sorafenib – is used in the treatment of certain types of liver, kidney and thyroid cancer. (Read more

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Shares of Bajaj Auto shed initial gains in choppy trading on Tuesday, ahead of a key meeting of the auto major’s board of directors to consider a proposed share buyback. Bajaj Auto shares fell by Rs 117.6 or three percent to Rs 3,763 apiece on BSE, after starting the day slightly in the green at Rs 3,890.Read more)
Shares of Adani Enterprises Ltd jumped more than 9% in an unexplained pre-opening surge on Tuesday. The stock had closed at Rs 2,079.75 on Monday and opened at the high of the day at Rs 2,274 on NSE. (Read more)


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