m-cap of BSE-listed firms at lowest level since July 2022; Investors lost ₹10.43 lakh crore in 7 days of selling

 

The m-cap stood at over ₹257.88 lakh crore as on February 27, the lowest level since July 2022. The last time markets were in the green was on February 16, when the m-cap of BSE Equities stood at around ₹268.31 lakh crore.

It took a total of seven trading days to push the BSE-listed equity market cap below ₹260 lakh crore. Billions of assets have been eroded since February 17, bringing m-cap to its lowest in eight months. Blame it all on the lack of driving factors in the domestic market, while fears of more rate hikes from global peers as well as rising inflation prospects take a toll on Indian equities. While the Adani saga continues with continued selling.

On Monday, bears dominated the Indian market with Sensex and Nifty 50 slipping below 59,300 and 17,400 levels. The indices witnessed broad-based selling, with small cap stocks falling heavily. Banking stocks outperformed the benchmarks but could not overcome selling pressure led by heavy selling in IT, auto and healthcare stocks. Heavy profit-booking in key Tata group stocks also influenced sentiment.

Due to this, the Sensex closed at 59,288.35, down 175.58 points or 0.30%. Meanwhile, the Nifty 50 closed at 17,392.70, down 73.10 points or 0.42%.

Shares of Tata Group were the top losers on Monday. Tata Steel led the bear market, down around 3.4%, while Tata Motors and heavyweight TCS declined 2.3% and 2.01%. While most of Adani's shares also ended in losses, reducing the total market value of the group to less than ₹7 lakh crore.

On Monday alone, the m-cap of BSE-listed firms fell by over ₹2.12 lakh crore.

The m-cap stood at over ₹257.88 lakh crore as on February 27, the lowest level since July 2022. The last time markets were in the green was on February 16, when the m-cap of BSE Equities stood at around ₹268.31 lakh crore.

It is being said that in seven trading sessions, investors' wealth stood at around Rs 10.43 lakh crore.

In these seven days, the Sensex has declined by over 2,031 points or 3.3%, while the Nifty 50 has declined by over 643 points or 3.6%.