MUMBAI: Investors in Indian stock markets lost Rs 4.12 trillion during Friday’s morning session as markets underwent a significant correction, driven by a weak global trend and renewed foreign fund outflows.
Extending its decline for the third consecutive day, the 30-share BSE Sensex plummeted by 896.7 points, or 1.09 percent, to 81,304.46 in early trade.
Slightly recovered
By noon, the BSE Sensex had slightly recovered, trading at 81,385, still down by 816 points, or 0.99 percent, while the Nifty 50 index was down by 228 points, or 0.91 percent, to 24,917.
Earlier this week, on Monday, the BSE benchmark reached an all-time high of 82,725.28. However, following the ongoing downturn in equities, the market capitalisation of BSE-listed companies dropped by Rs 4.12 trillion, falling to Rs 461.57 trillion ($5.50 trillion).
Top losers
In the Sensex 30 pack, top losers included State Bank of India, HCL Technologies, Reliance Industries, Adani Ports, Larsen & Toubro, and Mahindra & Mahindra, while Bajaj Finance, Asian Paints, and Hindustan Unilever emerged as gainers.
Across Asia, markets in Seoul, Tokyo, Shanghai, and Hong Kong were also trading lower, reflecting broader regional concerns. In the US, markets ended mostly in negative territory on Thursday.
FIIs offload
Foreign Institutional Investors (FIIs) sold equities worth Rs 688.69 crore on Thursday after several days of buying, according to exchange data.
Meanwhile, global oil benchmark Brent crude edged up by 0.15 percent to $72.81 per barrel.
“The near-term market trend will be influenced by the US jobs data set to be released tonight,” said a lead analyst at a brokerage.
On Thursday, the BSE benchmark had initially gained but later fell by 151.48 points, or 0.18 percent, to close at 82,201.16.
